Stellantis and Orano To Enter EV Battery Recycling Joint Venture

By
Naomi Buchanan
Naomi Buchanan
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Naomi Buchanan is a reporter at Investopedia breaking down news stories that impact investors.
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Published October 24, 2023
12:40 PM EDT
Under the hood of a Stellantis electric vehicle

Nathan Laine / Bloomberg via Getty Images

Key Takeaways

  • Stellantis and Orano said they will establish a joint venture for an electric vehicle (EV) battery recycling plant set to begin production in 2026.
  • The venture, which will secure access to materials needed to create EVs, could strengthen Stellantis' position in the competitive EV market.
  • The venture is designed to help support a circular and low-carbon economy amid the transition to EVs.

Automaker Stellantis (STLA) said it was set to enter a joint venture with Orano, a global nuclear fuel cycle company, to recycle electric vehicle (EV) batteries to support a circular economy.

The companies signed a memorandum of understanding to establish a joint venture for recycling EV batteries and scraps from gigafactories. The joint venture will produce “black mass” or “active mass" that can be refined at Orano’s hydrometallurgical plant to ultimately be reused in batteries.

Stellantis said the venture would strengthen the company's standing in the EV market by "securing additional access to cobalt, nickel, and lithium necessary for electrification and energy transition."

The "innovative and disruptive process" creates "a real closed loop," Orano Group Director of Innovation, R&D, and Nuclear Medicine, Magnets, and Batteries Guillaume Dureau said, indicating that the venture is part of Orano's "commitment to developing a low-carbon economy with the recycling of strategic materials for the energy transition and the circular economy."

The recycling joint venture is set to begin production in the first part of 2026 using existing Stellantis facilities. The company will invest to "reskill and upskill Stellantis and Orano employees" for the project.

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  1. Stellantis. "Stellantis and Orano Enter Electric Vehicle Battery Recycling Agreement."

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