The newly-formed company will retain ownership of the N-Van e: battery when leased. When a car reaches the end of its life, ALTNA will repurpose the battery and use it in grid storage. Extending a battery's useable life can cut lease prices for new EVs. Honda and Mitsubishi will form a 50/50 joint venture to support the growth of EVs and it’ll start with an intriguing lease plan for the new Honda N-VAN e:.
When a battery pack has reached the end of its life, ALTNA will recycle it. The Honda and Mitsubishi joint venture will also offer EV charging plans in Japan. It will use its energy-control technologies to ensure EV owners avoid charging their vehicles during on-peak hours, allowing them to automatically charge when the cost of procuring electricity is the cheapest. The system will also increase the use of renewable energies during charging.