Nissan is finally launching the exchange program for Nissan LEAF batteries in Japan that enables LEAF owners to trade in old batteries for refabricated ones.

The 24 kWh refabricated batteries for the oldest LEAFs will be offered for 300,000 yen apiece (around $2,850).

That's less than half the price of a brand new 24 kWh pack (650,000 yen or ≈$6,200). Nissan will try to make use of the old modules for energy storage systems.

Sales of the refabricated packs will start in May.

Nissan will offer refabricated batteries for the Nissan LEAF under a new, fee-based exchange program

"Starting in May, owners of the 100% electric Nissan LEAF can turn in their used batteries and, for a fee, receive refabricated ones. Nissan is using the battery-refabrication capabilities of 4R Energy Corp., a company established through a joint venture with Sumitomo Corp., to offer the program.

As demand for electric vehicles grows, the number of used batteries will increase significantly. Nissan hopes that by reclaiming these batteries, it can help lower battery replacement costs and heighten the used-car value of electric vehicles.