Iveco Group, a global chemical giant specializing in battery chemistry and recycling, has announced its partnership with Basf to take the lead in recycling efforts for lithium-ion batteries used in electric vehicles. This collaboration is an integral part of Iveco Group’s circular economy strategy, which aims to prolong the lifespan of batteries and minimize their environmental impact.
Under the agreement, Basf, which recently inaugurated Europe’s first battery materials production and recycling center in Schwarzheide, Germany, will oversee the entire recycling process for lithium-ion batteries found in Iveco-branded electric vans, buses, and trucks. This process encompasses collection, packaging, transportation, and mechanical processing of the batteries. Basf will extract and recover crucial raw materials such as nickel, cobalt, and lithium, which can be utilized in the production of new batteries.
Angela Qu, Chief Supply Chain Officer of Iveco Group, expressed excitement regarding the partnership and emphasized that collaborating with Basf will allow them to achieve a circular economy and reduce their carbon footprint. Iveco Group’s goal is to achieve zero carbon emissions by 2040, making this partnership a significant step towards their sustainability objectives.
Daniel Schönfelder, President of Basf’s Catalysts division, underlined the importance of this collaboration, citing that it is Basf’s first battery recycling agreement concerning electric vans, buses, and trucks. He also highlighted the company’s commitment to supporting the European market in meeting the circular economy requirements set by the EU Battery Regulation.
The partnership between Iveco Group and Basf not only showcases their joint dedication to sustainability but also underscores the increasing significance of battery recycling in the electric vehicle industry. Through their collaboration, they aim to close the loop and ensure a more sustainable future for electric vehicles.
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