The daily Nikkei reported on Thursday That Nissan Motor plans to build new battery recycling factories in the United States and Europe by the end of fiscal 2025.
The company said recycling batteries and re-using them in electric vehicles (EVs) would help lower production costs as the price of rare metals rise.
The factories would be the company’s first battery recycling facility built outside of Japan. the country is still not decided in Europe where the factory would be built.
Last month, the company announced its electrification push, committing to spending 2 trillion yen ($17.53 billion) over five years to increase vehicle electrification to catch up with rivals in one of the fastest-growing segments for carmakers.
The Company said that they are planning to launch 23 electrified vehicles, including 15 EVs, by 2030.