The Nikkei daily reports that Nissan Motor Co Ltd plans to build electric vehicle battery recycling plants in the United States and Europe by the end of fiscal year 2025.
“Nissan hopes that recycling batteries and reusing them in electric vehicles (EVs) will help lower production costs as rare metal prices rise,” the Nikkei wrote.
The factories will be the company's first battery recycling facilities to be built outside of Japan, the report added, without specifying in which countries the plants will be built in Europe.
Nissan did not immediately respond to a request for comment from Reuters.
Last month, Nissan committed to spending 2 trillion yen (equivalent to Rp. 251.5 trillion) over the next five years to improve vehicle electrification. The automaker said it plans to launch 23 electric vehicles, including 15 battery electric vehicles, by 2030.
Nissan was one of the first manufacturers to market battery electric vehicles through the Nissan Leaf. Now, the Japanese manufacturer also has a Nissan Ariya which is also battery-powered.