Toyota Motor Corporation and Chubu Electric Power Co., Inc. have concluded a basic agreement to begin working on a verification project which would entail the construction of a large-capacity storage battery system that reuses electrified vehicle batteries. The project was also look into recycling used batteries.
In December 2017 Toyota announced its “Challenge to Promote Widespread Use of Electrified Vehicles” and correspondingly Toyota is actively promoting the use of electrified vehicles. Toyota is also pursuing the effective use of batteries as well as looking into developing social infrastructure that will support the widespread adoption of electrified vehicles.
Chubu Electric Power is also involved in and looking to further promote efforts towards improving the operation of its electric power system. This makes Chubu Electric Power an excellent partner as the company recognised the growing importance of accurately managing fluctuations in its energy supply-demand balance, which is caused by the recent large-scale introduction of renewable energy.
Through the agreement, both companies will endeavour to reuse batteries collected from electrified vehicles manufactured by Toyota, with the aim of using them as a storage systems for utilisation in meeting various challenges posed by the electric power system. These used batteries, when large amounts are combined, can be repurposed for energy supply-demand adjustments, frequency fluctuation management, and voltage fluctuation management in distribution systems. All of these factors make up the widespread introduction of renewable energy.
Both companies will also look into establishing a mechanism which recycles reused batteries by collecting materials, such as rare-earth metals, and re-utilising them.