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Business

NEC exiting lithium-ion battery race as leaders pull away

Japanese company selling electrode unit, stake in joint venture with Nissan

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  © Reuters

TOKYO -- NEC is in final talks to sell its battery electrode subsidiary to Chinese investment group GSR, looking to pull out of a capital-intensive business in which it has little reason to stay.

The Tokyo-based manufacturer has apparently offered to sell NEC Energy Devices for about 15 billion yen ($135 million) to the Chinese investor, which is also negotiating to buy NEC's interest in a battery joint venture with Nissan Motor.

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