Iveco Group & BASF Team Up to Revolutionize EV Battery Recycling in Europe
Iveco Group and BASF have joined forces to revolutionize the recycling of lithium-ion batteries used in electric vehicles. The collaboration, announced in March 2024, aims to create a circular economy strategy for battery recycling in the automotive industry across Europe.
BASF, a global chemical company, will lead the comprehensive recycling process for lithium-ion batteries in France, Germany, and the UK. Angela Qu, Chief Supply Chain Officer at Iveco Group, expressed enthusiasm about the partnership, citing BASF's extensive battery collection network and recycling capabilities in Europe.
The recycling process involves collection, packaging, transportation, and recycling, emphasizing a holistic approach to battery management. BASF will mechanically process the batteries to extract critical raw materials such as nickel, cobalt, and lithium, establishing a complete battery recycling value chain in Europe. This partnership aims to support the European market in meeting the circular economy-focused policy requirements of the EU Battery Regulation.
Dr. Daniel Schönfelder, President of BASF's Catalysts division, emphasized the significance of the collaboration. It's BASF's first agreement to recycle batteries from electric commercial vehicles and an important step for their battery recycling business. Iveco Group has chosen BASF as its inaugural partner to provide an advanced recycling solution for its electric vans, buses, and trucks.
The partnership between Iveco Group and BASF is expected to contribute significantly to Iveco Group's commitment to achieving net-zero carbon emissions by 2040. By creating a circular economy strategy for battery recycling, the collaboration aims to make a substantial impact on the sustainability of the electric vehicle industry in Europe.
