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by
Jordy Leo
- October 26, 2023
Stellantis [STLA:US], the Franco-Italian automaker, and Orano, a French nuclear materials company, have signed a memorandum of understanding (MOU) to create a joint venture (JV) focused on recycling end-of-life electric vehicle (EV) batteries, as reported by Reuters on October 24. The collaboration aims to recycle used EV batteries and scrap materials sourced from Stellantis’ gigafactoriesin Europe and North America. Utilizing Orano’sadvanced pretreatment techniques and hydrometallurgy technology, the joint venture will recover all materials from lithium-ion batteries (LIBs) with impressive recovery rates of metals exceeding 90%. Notably, the partnership holds the objective of reinforcing Stellantis’ position in the EV battery value chain by securing additional access to vital materials such as cobalt, nickel, and lithium.
The move aligns with substantial investments made in the circular metal industry following new regulations set by EU lawmakers last December. These regulations mandate minimum levels of recycled materials in various battery types, including industrial, starter, light, ignition, and electric vehicle batteries. By entering into this partnership, Stellantis ensures compliance with the stringent recycling standards outlined by the European Commission, thereby sustaining their business models in an environmentally responsible manner. Stellantis’ commitment to environmental sustainability is outlined in its Dare Forward 2030 strategic plan, which aims to boost recycling revenues and achieve EUR2bn in total circular economy revenues by 2030. This initiative is a significant step toward Stellantis’ goal of becoming carbon neutral by 2038.
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