Volkswagen, Umicore venture shows the circular EV battery economy is heating up

Volkswagen is partnering with a Belgian technology group to produce battery materials in Europe, the latest in a spate of industry-wide deals to create a circular battery economy that can meet that can meet production targets as automakers shift toward EVs.
The $3 billion joint venture between Volkswagen Group’s battery business PowerCo and Brussels-based Umicore aims to produce cathode material to power 2.2 million EVs by the end of the decade. The partnership underscores a fledgling effort to establish sustainable supply chains as automakers prepare to scale EV production amid supply shortag

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