The new joint venture company will work towards developing the second-life battery business, by conducting demonstration tests and undertaking a commercialization study, thereby meeting management goals for the battery’s entire value chain and energy storage systems.
The new joint venture company will also advance Nissan’s ‘4R Energy’ business, a second-life business for recyclable Li-ion batteries, formed in collaboration with Sumitomo to jointly study the ways to “Reuse, Resell, Re-fabricate and Recycle” the lithium ion batteries used in electric cars.
Nissan is slated to launch Nissan Leaf, a mass-marketed electric car, in December 2010 in Japan and the US, followed by the global release in 2012.
Sumitomo, on the other hand, is working on developing new approaches to realizing a low-carbon, recycling-based society with the launch of a new division, the New Business Development & Promotion Division.
