Nissan, Sumitomo Establish 4R Energy JV
Nissan Motor Co and Sumitomo Corp had formed a joint venture aimed at commercializing used lithium-ion batteries for electric vehicles.
Naming a second-life business for recyclable advanced lithium-ion batteries as the "4R Energy” business in October 2009, both companies started a joint study to "Reuse, Resell, Refabricate and Recycle" the lithium ion batteries used in electric vehicles.
The 4R Energy will be held 51 percent by Nissan and 49 percent by Sumitomo, they said in a statement.
Nissan will launch electric Nissan LEAF in December 2010 in Japan and the United States, followed by the global release in 2012. Meanwhile, in April 2010, Sumitomo launched a new division, the New Business Development & Promotion Division, which is responsible for environmental businesses and is working on developing new approaches to realizing a low-carbon, recycling-based society.
Nissan has an existing joint-venture company with NEC Corporation - Automotive Energy Supply Corporation (AESC) - to mass produce high-performance lithium-ion batteries.
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