Logo of truck-maker Iveco is pictured at the IAA Transportation fair, which will open its doors to the public on September 20, 2022, in Hanover, Germany, September 19, 2022. REUTERS/Fabian Bimmer/ File Photo
MILAN (Reuters) – Italian truck and bus maker Iveco Group has partnered with German chemicals group BASF for the recycling of lithium-ion batteries of its electric vehicles (BEVs), the two companies said on Tuesday.
The agreement, for which no financial details were provided, is part of Iveco’s circular economy strategy, aiming to increase batteries’ lifetime and reduce their overall environmental impact, the two companies said in a statement.
It also complies with the so-called Extended Producer Responsibility policy approach, which extends the manufacturers’ responsibility to the entire life cycle of the products they introduce on the market, including management of the post-consumer stage and end-of-life.
BASF, one the main suppliers of chemicals for automotive batteries, has recently inaugurated a hub for battery material production and battery recycling in Schwarzheide, Germany.
Based on the deal with Iveco, BASF will arrange there the whole recycling process for the lithium-ion batteries used by the Italian group on its BEV vans, buses and trucks, including their collection, packaging, transport, and recycling in a number of European countries.
BASF will mechanically process the batteries into the “black mass”, from which raw materials such as nickel, cobalt and lithium can be extracted and reused. It will then supply recycled metals to Europe’s local battery industry.
BASF’s “broad battery collection network and recycling capabilities in Europe will help us close the loop from end-of-life batteries to new ones,” Iveco’s Chief Supply Chain Officer Angela Qu said in the statement.
(Reporting by Giulio Piovaccari; Editing by Angus MacSwan)
News Related-
The best Walmart Cyber Monday deals 2023
-
Jordan Poole took time to showboat and got his shot blocked into the stratosphere
-
The Top Canadian REITs to Buy in November 2023
-
OpenAI’s board might have been dysfunctional–but they made the right choice. Their defeat shows that in the battle between AI profits and ethics, it’s no contest
-
Russia-Ukraine Drone Warfare Rages With Dozens Headed for Moscow, Amid Deadly Winter Storm
-
Trump tells appeals court that threats to judge and clerk in NY civil fraud trial do not justify gag order
-
Can Anyone Take Paxlovid for Covid? Doctors Explain.
-
Google this week will begin deleting inactive accounts. Here's how to save yours.
-
How John Tortorella's Culture Extends from the Philadelphia Flyers to the AHL Phantoms
-
Tri-Cities' hatcheries report best Coho return in years
-
Wild release Dean Evason of head coaching duties
-
Air New Zealand’s Cyber Monday Sale Has the 'Lowest Fares of 2023' to Auckland, Sydney, and More
-
NDP tells Liberals to sweeten the deal if pharmacare legislation is delayed
-
'1,000 contacts with a club': Tiger Woods breaks down his typical tournament prep to college kids in fascinating video