Renault plans to initiate global recycling of lithium and other materials extracted from used electric car batteries, becoming the first manufacturer in Europe to implement such a project.

Jean-Philippe Bacho, CEO of Renault’s environmental division «The Neutral Future» (TFIN), announced from Paris that the company is engaged in advanced discussions with experts in battery material recycling.

Recycling materials from used electric car batteries not only benefits the environment but also represents up to 70% of the cost of the batteries, which in turn constitutes up to 40% of the total cost of the electric vehicle.

Recycling these materials and using them to create new batteries will help increase the company’s profitability. Renault’s TFIN division has already entered the market.

Assembly at the company’s factory in Flins, near Paris, will be completed next month. The facility will be reoriented to assemble partially recycled automotive components and refurbished vehicles.

During the current year, up to 9,000 batteries are planned to be refurbished here, which will be sold at a 30% discount compared to new parts.