PARIS - French automaker Renault is in advanced discussions with potential partners to extract and recycle lithium and other metals from used electric vehicle batteries, a company executive said, as it seeks to reuse more of the strategic raw materials.
Most of the metals used in batteries that power EVs are mined and processed outside Europe, and there are growing concerns about the region's heavy reliance on China for the materials. A pioneer in electric vehicles with partner Nissan last decade, Renault has been overtaken by Tesla and several Chinese brands.In April it will stop production of new vehicles at its Flins factory to the west of Paris, and shift completely to production of partially recycled car components and reconditioned vehicles.Renault sells the batteries and other reconditioned parts such as electric engines and chargers at a 30% discount to new products.
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