Stellantis, Orano Won't Finalize Battery Recycling JV

By Stephen Nakrosis

Stellantis and materials recycling company Orano said they decided to not finalized a planned joint venture for recycling end-of-life electric vehicle batteries and scrap.

In October of last year, the companies entered a non-binding memorandum of understanding to form the JV, which would have recycled end-of-life batteries and scrap from gigafactories in Europe and North America. At the time, Stellantis said the partnership would support its sustainable management of battery electric vehicle materials and its plan to become carbon neutral by 2038.

In last year's announcement, the companies also said the partnership was among the first wave of the industry's support of a global circular economy approach to manufacturing and consumption.

The joint venture would have capitalized on Orano's technology which allows for the recovery of all materials from lithium-ion batteries.

On Wednesday, Stellantis, which was formed by the merger of Fiat Chrysler Automobiles and PSA group, and Orano said they are exploring other potential commercial relationships.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

September 25, 2024 14:57 ET (18:57 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.