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Volvo and CATL partner to recycle battery materials in EVs
Waste Recovery & Management Tech
Apr 18, 2024
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Waste Recovery & Management Tech

Waste Recovery & Management Tech

Apr 18, 2024

Volvo and CATL partner to recycle battery materials in EVs

Partnerships

  • Volvo Cars has teamed up with Contemporary Amperex Technology Co Ltd (CATL) to create a sustainable battery recycling approach for electric cars.

  • Under the partnership, Volvo will collect used batteries from its vehicles and recycle over 90% of the metal elements. CATL will then utilize these recycled supplies to manufacture new batteries for further use in new Volvo vehicles. Volvo reports that the partnership is also part of its sustainability strategy, which aims to achieve zero greenhouse gas emissions by 2040.

  • Analyst QuickTake: The partnership is a notable step toward establishing a circular solution for end-of-life EV batteries in China. Volvo will also be able to strengthen inroads into the Chinese market through its parent, Geely, as China becomes one of the largest markets for EVs and a leading market for EV batteries in need of circular solutions.

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