Stellantis And Orano Enter Electric Vehicle Battery Recycling Agreement
Portfolio Pulse from Benzinga Newsdesk
Stellantis N.V. (STLA) and Orano have signed a memorandum of understanding to establish a joint venture for recycling end-of-life electric vehicle batteries and scrap from gigafactories in Europe and North America. The partnership aims to support Stellantis' sustainable management of battery electric vehicle materials and its strategic plan to become a carbon net zero company by 2038. The joint venture will use Orano's innovative, low-carbon technology to recover all materials from lithium-ion batteries and manufacture new cathode materials. The venture is expected to start production in the first part of 2026.
October 24, 2023 | 12:22 pm
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Stellantis' partnership with Orano for recycling end-of-life electric vehicle batteries could strengthen its position in the electric-vehicle battery value chain and support its goal to become a carbon net zero company by 2038.
The joint venture with Orano could provide Stellantis with additional access to cobalt, nickel, and lithium necessary for electrification and energy transition. This could strengthen its position in the electric-vehicle battery value chain and support its goal to become a carbon net zero company by 2038. The venture is also expected to increase Stellantis' recycling revenues and contribute to its total circular economy revenues.
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