NetEase Technology News June 14, according to foreign media reports, due to the market slump and the outbreak of the new crown epidemic, the energy giant NEC Corp.'s US battery subsidiary NEC Energy Solutions went bankrupt after seeking to sell unsuccessfully.

NEC Energy is headquartered in Massachusetts, and its management has sent a letter to inform customers that the company will begin "orderly ending" business, and most employees will remain in the company until the existing projects at hand are completed. Although NEC Energy will not seek new business, it is still committed to completing projects under development.

Previously, NEC had tried to sell NEC Energy, but in view of the current sluggish market of grid-scale battery energy storage business, coupled with the outbreak of the new crown epidemic, hindered its efforts to find suitable buyers.

Some analysts pointed out that NEC Energy is one of the few companies in the battery industry that has global influence. Its failure caused a problem whether its dilemma is unique or it is an industry problem.

Steve Fludder, CEO of NEC Energy, will resign and will be succeeded by Mark Lymberg, who describes the latter as "experienced executives in business restructuring." (Little)

Source: Netease technology report, translated by Internet