Volvo Cars has signed a strategic memorandum of understanding with the Chinese battery manufacturer CATL to enter into intensive cooperation in battery recycling. Under this agreement, Volvo Cars will recover old batteries and those scrapped in production from its sold vehicles. The aim is to recover over 90 percent of metals such as nickel, cobalt, and lithium to use them to produce new batteries that will be used in new Volvo vehicles. This partnership aims to promote the recycling of battery materials and reduce the carbon footprint throughout the life cycle of electric vehicles.
Volvo Cars has presented its strategy for sustainable development, focusing on the circular economy. The company aims for an average recycling rate of 30 percent for all its models by 2030 and to ensure that new models produced from 2030 onwards contain at least 35 percent recycled materials. The recent partnership with CATL represents another significant breakthrough after jointly leveraging blockchain technology to ensure the traceability of battery raw materials.
Volvo Cars and CATL’s collaboration focuses on the closed-loop management of battery materials, which includes dismantling, recycling, and reusing old batteries to reduce carbon emissions throughout their life cycle and promote the circular economy.
This initiative is in line with Volvo’s long-term vision to make electric vehicles more environmentally friendly and to drive sustainable change in the automotive industry.
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