TOKYO -- Japanese trading house Marubeni has formed a capital partnership with Chinese electric vehicle company Byton, the latest move in a global race to secure used automotive batteries for recycling as energy storage units serving homes and other applications, Nikkei has learned.
Electric cars in China
Marubeni invests in China EV startup Byton for old batteries
Race is on to recycle the devices into large energy storage units
Byton plans to release an electric vehicle in 2020. (Photo courtesy of Byton)
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