BMW, Northvolt, Umicore team up on battery recycling
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BMW will team up with Northvolt, which is building Europe’s largest battery factory in Sweden, and Belgium’s Umicore to develop a process for electric car batteries to be recycled, the automaker said in a statement. BMW had a funding investment of undisclosed size in the venture, the Swedish startup, which plans to build a factory in Sweden to produce 32 gigawatt hours (GWh) of battery capacity a year by 2023, said on Monday.
The partnership could indicate that BMW will source batteries from Northvolt, giving investors confidence to fund the project that is expected to raise debt and equity next year.
The project aims to create a “closed life cycle loop” for battery cells, which will be manufactured using a recyclable design and used in electric vehicles, then possibly as stationary storage devices before finally being recycled and reused.
Questions & Answers
Q.Which companies are involved in this battery recycling collaboration?
Which companies are involved in this battery recycling collaboration?
BMW is teaming up with Northvolt, a Swedish startup, and Umicore, a Belgian company, for the development of the recycling process.
Q.What is Northvolt's production goal and timeline for its Swedish factory?
What is Northvolt's production goal and timeline for its Swedish factory?
Northvolt aims to produce 32 gigawatt hours of battery capacity per year by 2023 at its factory in Sweden.
Q.What is the ultimate goal of the partnership's battery lifecycle project?
What is the ultimate goal of the partnership's battery lifecycle project?
The project aims to create a closed life cycle loop, where battery cells are designed for recycling, used in vehicles, then possibly in stationary storage, and finally recycled and reused.
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