Nissan hopes that recycling batteries and re-using them in electric vehicles will help lower production costs as the price of rare metals rise, the daily Nikkei reported.

The automaker plans 23 new electrified vehicles, including 15 EVs, and aims for an electrification mix of 50 percent across the Nissan and Infiniti brands by March 31, 2031.

Japan's Envision AESC will invest $2 billion to build a battery-cell and module plant in Kentucky to supply Mercedes-Benz and multiple other automakers.