[Global Network] According to Reuters, BMW, Swedish battery company Northvolt, Belgian material recycling group Umicore will jointly develop a new technology for recycling electric vehicle batteries, which gives batteries Closed life cycle cycle.”
According to reports, BMW Motors said in a statement that BMW will work with Northvol and Belgian Umicore to develop a new process for recycling electric vehicles.
Northvol is working on building the largest battery plant in Europe in Sweden, with the goal of achieving a battery capacity of 32 GWh per year by 2023. Northvol said on the 15th that BMW will invest in the project and the scale of the investment is still unclear.
The cooperation shows that BMW will purchase batteries from Northvolt in the future; the cooperation also gives investors confidence to fund the project. The project will raise debts and raise capital in the next year.
The project aims to create a “closed life cycle” for batteries, which can be used in electric vehicles; batteries can be used as storage products before being recycled and reused.
Post time: Oct-24-2018