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Recently, the CEO of The Future Is Neutral (TFIN), a circular economy company under the Renault Group, revealed that Renault is in deep discussions with potential partners regarding the extraction and recycling of metals such as lithium from used electric vehicle batteries.

According to Automotive News Europe, Renault’s goal is to become the first European car manufacturer to recycle batteries on an industrial scale.

With the dawn of a new era in electric vehicles, traditional European automakers are increasing their investment in electric cars, thereby clarifying their demands for the localization of supply chains.

According to Canalys statistics, Europe has become the second-largest new energy vehicle market after China, with new energy vehicle sales reaching 2.6 million units in 2022 and surpassing 3 million units in 2023, with a penetration rate of over 20%.

However, unlike the rapidly developing new energy vehicle industry, deficiencies in local resource endowments have to some extent hindered the development of the battery industry chain.

A report released by T&E at the end of last year showed that European car manufacturers only secured one-sixth of the key raw materials for electric vehicle batteries needed to meet sales targets by 2030.

T&E experts also stated, “There is a clear disconnect between European car manufacturers’ sales targets for electric vehicles and their critical minerals strategy.”

Source: WeChat Official Account—电池工业网

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