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Managing Automotive

Renault plans foray into energy market with mega battery

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Renault plans foray into energy market with mega battery

Renault-Nissan is drawing up plans to build a 100 megawatt power storage plant in Europe, sources told Reuters, hoping to give electric car batteries a second life in a project that could eventually compete with utility companies. Like rival Tesla's energy storage business, the Renault-Nissan move underscores its desire to cultivate a second-hand battery market while encouraging the development of energy infrastructure that works for electric cars. The Renault-Nissan alliance plant, which has yet to be built, would be big enough to power 120,000 homes, or supplant the role of a gas- or coal-fired power station in meeting peak electricity demand on the grid, the sources said.

[Reuters]

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