Stellantis and Orano drop planned JV to recycle electric car batteries
Tweet
Share
E-mail
FILE PHOTO: The logo of Stellantis is seen outside the company's building in Chartres-de-Bretagne near Rennes, France, September 20, 2024. REUTERS/Stephane Mahe/File Photo
(Reuters) - Franco-Italian automaker Stellantis and French nuclear fuels firm Orano have dropped their planned joint venture to recycle electric car batteries, both companies said on Wednesday.
The two companies had signed a memorandum of understanding last year. The JV was to help recycle used electric vehicle batteries and scrap materials from Stellantis gigafactories in Europe and North America, with production set to start in the first part of 2026.
"Stellantis and Orano will not finalize the intended joint venture for recycling end-of-life electric vehicle batteries and scrap," the companies said, adding they are exploring other potential commercial relationships.
The deal would have given Stellantis, parent company of brands including Peugeot, Fiat and Jeep, additional access to the cobalt, nickel and lithium necessary for electrification and the energy transition.
(Reporting by Utkarsh Shetti in Bengaluru; Editing by Krishna Chandra Eluri)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Israeli strike kills two people including a 3-year-old boy, Gaza medics say
- North Korea names new defense minister, KCNA says
- Rescuers race to find thousands missing after Nepal-China glacier collapse
Create E-mail Alert Related Categories
ReutersSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
