French carmaker Renault is said to be in advanced talks with strategic industry partners to recycle electric vehicle (EV) battery metals, Reuters reports.
Discussions about a battery recycling partnership are progressing nicely, according to Jean-Philippe Bahuaud, chief executive of Renault’s environmental division. He confirms the company intends to build a closed-loop, industrial-scale EV battery supply chain.
It would make Renault the first carmaker to do so in Europe, Buhuaud tells Reuters.
‘There is currently nobody who can claim to recycle used batteries in a closed loop to reproduce nickel, cobalt and lithium to make new batteries.’
Buhuaud points out that battery metals make up around 70% of the cost of an automotive battery. This means there are plenty of benefits in tapping this growing, new market.
His statement follows a recent 19-page long open letter by Renault’s ceo Luca de Meo. He details a plan to ‘protect’ Europe against the ‘onslaught of electric vehicles coming from China’.
De Meo observes electric vehicles represent almost 15% of global car sales. China is leading the market with a 60% market share in 2023 (8.5 million EVs sold).
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