Iveco Group (EXM: IVG), a prominent player in the electric vehicle industry, has officially announced its partnership with BASF (FWB: BAS), a global leader in the chemical sector and the primary chemical provider for the automotive industry. This collaboration marks a significant step in Iveco Group’s initiative to offer a sustainable recycling solution for the lithium-ion batteries in its electric vehicles.
Central to Iveco Group’s strategy is its commitment to the circular economy, adhering to the 4R Framework – Repair, Refurbish, Repurpose, and Recycling. This approach not only extends the life of the batteries but also minimizes their environmental impact. It ensures compliance with the Extended Producer Responsibility policy, which mandates producers to manage the entire lifecycle of their products, from design to end-of-life.
BASF, renowned for inaugurating Europe’s first integrated center for battery material production and recycling in Schwarzheide, Germany, will take charge of the entire recycling process. This process encompasses the collection, packaging, transportation, and recycling of the lithium-ion batteries used in Iveco Group’s electric vans, buses, and trucks. The agreement covers several European countries, including France, Germany, and the UK.
After collection, BASF will process the batteries into black mass. This process allows for the extraction and recovery of critical raw materials like nickel, cobalt, and lithium, essential for new battery production. Thus, BASF aims to establish a complete battery recycling value chain in Europe, providing locally sourced recycled metals with a reduced carbon footprint for the battery industry.
Angela Qu, Chief Supply Chain Officer at Iveco Group, commented, “Life cycle thinking is one of our strategic sustainability priorities.” She emphasized the shared values with BASF, noting their extensive battery collection network and recycling capabilities in Europe as instrumental in fostering a circular economy and reducing CO2 emissions. This partnership aligns with Iveco Group’s goal to achieve net zero carbon by 2040.
Dr. Daniel Schönfelder, President of BASF’s Catalysts division, remarked on the significance of this partnership with Iveco Group, highlighting it as BASF’s first agreement to recycle batteries from electric vans, buses, and trucks. He pointed out the importance of this collaboration in expanding BASF’s battery recycling business and strengthening its European collection network. Schönfelder concluded by expressing BASF’s commitment to supporting the European market in achieving a circular economy, in line with the ambitious targets set by the EU Battery Regulation.