French automotive giant Renault is focused on leading battery recycling in Europe under a commercial restructuring, with major partnerships to recycle metals such as lithium from electric vehicle batteries.
Among its main plans are the promotion of a circular economy, which will generate profits and reduce the dependence of Asian exports on these resources.
Cost and recycling of used batteries
The company is in talks with specialized companies to establish a large-scale industrial battery recycling process. Jean-Philippe Bahuaud, general manager of Renault’s environmental unit, detailed the lack of capacity in Europe to recycle used batteries and produce new materials such as nickel, cobalt and lithium, essential for making fresh batteries.
This represents approximately 40% of the value of an electric vehicle, could be significantly reduced through the use of recycled metals, which in turn could make the electric vehicles vehicles more affordable for consumers.
Renault has concrete plans for its plant in Flins, France, where it will for its plant in Flins, France, where it will switch from the production of new vehicles to the manufacture of partially recycled automotive components and reconditioned vehicles. The factory is expected to repair about 9,000 batteries this year, offering 30% discounts on batteries and other reconditioned parts.
The company has a sales target for its TFIN unit, aiming for €2.3 billion (US$2.49 billion) with an operating margin of over 10% by the end of the decade.
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Source: Automotive News Europe
Photo: Shutterstock
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