At a small plant intended to help revitalize a town ravaged by the 2011 earthquake, Nissan Motor Co. is giving its costly electric vehicle (EV) batteries a new lease on life after they pass their peak performance.
Global automakers are looking for ways to make cheaper EVs and prolong the life of their batteries, which can account for up to one-fifth of each vehicle's cost and are made from increasingly costly materials including cobalt and nickel.
Starting in May, 4R Energy Corp., a joint venture between Nissan and Sumitomo Corp., will begin selling rebuilt replacement lithium-ion batteries for the first-generation Leaf.