Nissan Motor Co. Ltd. and Sumitomo Corp. have announced the creation of a joint-venture company that will conduct research on the recycling of lithium-ion batteries, typically used in electric cars.
The two companies jointly developed a business called 4R (Reuse, Resell, Refabricate and Recycle) Energy last October, which was used to study the recycling of batteries.
According to a release, the joint-venture company will work towards developing the second-life battery business. As part of this new business development, the company will conduct demonstration tests and undertake a commercialization study.
The company, 4R Energy Corp., will be located in Yokohama City, Japan. Nissan Motors will have a 51 percent stake in the new company, with Sumitomo being a 49 percent stakeholder in the company. Research will target business opportunities in both Japan and North America.
Latest from Recycling Today
- AISI, Aluminum Association cite USMCA triangular trading concerns
- Nucor names new president
- DOE rare earths funding is open to recyclers
- Design for Recycling Resolution introduced
- PetStar PET recycling plant expands
- Iron Bull addresses scrap handling needs with custom hoppers
- REgroup, CP Group to build advanced MRF in Nova Scotia
- Oregon county expands options for hard-to-recycling items
