As the first generation of electric cars and micro-mobility are now approaching their end of life, many car manufacturers have noticed and started big projects, partnering up with energy companies to give these batteries a second life. Nissan, was one of the first major automakers to pilot second-life EV (Electric Vehicle) batteries in a grid-scale storage installation in 2015. Meanwhile, Daimler announced plans to build a 13-megawatt-hour second-life battery storage unit at a recycling plant. Mercedes Benz Energy also teamed up last year with Beijing Electric Vehicle, one of China’s largest EV makers, to build an energy storage system that uses retired EV batteries.
Some startups are also making the most of this opportunity. Bikefusion for example takes used parts and components to create electric bikes. Nevertheless, these sorts of upcycling projects are still in their early days, and investing is still considered risky, especially as battery technology is still developing.