Nissan Motor and Sumitomo Corp. will collaborate to recycle electric vehicle batteries. In September 2010, the two companies jointly founded 4R Energy with a capital of 450 million yen, of which Nissan paid 51% and Sumitomo 49%, that is currently conducting research on the performance of electric vehicle batteries. The two companies will increase the capital of 4R Energy on the current ratio to let it start the battery recycling business. It will be four to five years later that 4R Energy actually purchases used-up electric vehicle batteries.
An electric vehicle battery is nearly 2 million yen that accounts for nearly half of the price of an electric vehicle. Because a used-up vehicle battery can be used as an emergency power source of household, the three companies wish to construct a system to recycle electric vehicle batteries for further spread of electric vehicles. During the four to five years, 4R Energy will construct a network for collecting used-up batteries and accumulate know-how on their appraisal.