Japan - The global development and manufacturing centre for 4R Energy Corporation will soon open in the town of Namie. It will specialise in the recycling and refabrication of lithium-ion batteries from all over the country.
Owners of the Nissan Leaf will be able to turn in their used batteries and receive refabricated ones for a fee, while some of the batteries will also be recycled and used in electric forklifts and at energy storage facilities. Nissan believes that this will help lower battery replacement costs and heighten the used car value of electric vehicles (EVs).
The OEM is also predicting a sharp rise in demand for lithium-ion batteries as owners of first generation EVs look to replace their vehicles while "environmental issues, including climate change, weigh on the minds of motorists around the world." A report by Grand View Research suggests that the global lithium-ion battery market will be worth US$93.1 billion by 2025, marking a CAGR of 17%. It highlights growing adoption of EVs as a primary driver for demand.
4R Energy Corporation was established in 2010 through a joint venture between Nissan and Sumitomo Corporation.