Tokyo-based Aucnet Inc. and MIRAI-LABO Co Ltd have announced that they are considering launching a joint project to venture into the used electric vehicle (EV) battery recycling and distribution business by the end of February this year.
With its unique battery grading technology and MBMS (Multiple Battery Management System), MIRAI-LABO has flourished in recycling used EV batteries for autonomous street lighting dubbed ‘The Reborn Light’.
While, Aucnet has been involved in online auctions for 35 years in several business areas, comprising used cars. In the automobile business, Aucnet conducts inspections and grading of more than one million used cars per year through AIS Inc.
Besides, in the digital product business, Aucnet performs data erasure, inspection, and grading of over two million used smartphones, PCs, etc. per year, and sells them both domestically and internationally through global auctions.
In 2019, the two companies partnered for sharing each other’s technology and know-how through a capital and business alliance. Now, these companies have decided to enter into the new regenerative EV battery business and related markets.
In the automotive industry, the shift to EVs is underway worldwide from the perspective of environmental protection and sustainable development. On the other hand, although lithium-ion batteries installed in EVs utilize cutting-edge technology and rare mineral resources, a scheme for lifetime reuse to maximize their value has yet to be established.
Through this joint project, both the companies hope to contribute to the sustainable development of the automotive industry and the solution to environmental issues by realizing the secondary distribution of EVs and the recycling and distribution of lithium-ion batteries.
Besides, by establishing inspection and grading technology for EV batteries, this project will also address the proper evaluation and formation of a fair price for used EVs, which are said to be more prone to decline in residual value compared to fuel vehicles.