Recharging The Future: Stellantis And Orano Plan JV For Recycling EV Batteries, Scrap From Gigafactories
Portfolio Pulse from Shivani Kumaresan
Stellantis N.V. (NYSE:STLA) and nuclear energy company Orano have signed a memorandum of understanding to establish a joint venture for recycling end-of-life electric vehicle batteries. The joint venture will recycle batteries and scrap from gigafactories in Enlarged Europe and North America. The move is expected to strengthen Stellantis' position in the electric-vehicle battery value chain by securing additional access to cobalt, nickel, and lithium necessary for electrification and energy transition.
October 24, 2023 | 5:05 pm
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Stellantis' joint venture with Orano for recycling EV batteries is expected to strengthen its position in the EV battery value chain. However, STLA shares are trading lower by 1.66% at $18.62 on the last check Tuesday.
The joint venture will recycle batteries and scrap from gigafactories, securing additional access to cobalt, nickel, and lithium necessary for electrification and energy transition. This strategic move could potentially strengthen Stellantis' position in the EV battery value chain, which could have a positive impact on its stock in the long term. However, in the short term, STLA shares are trading lower.
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