Renault Secures Low-Carbon Cobalt for EV Batteries in Morocco Deal
Renault Group and Managem Group have signed a strategic agreement to secure low-carbon and responsibly sourced cobalt sulfate for electric vehicle batteries. The deal, signed in the presence of Moroccan Minister of Industry and Commerce Ryad Mezzour and Renault Group's Mohamed Bachiri, aims to support electric mobility and sustainable mining in Morocco.
The partnership involves Managem Group investing in a plant in Morocco to transform cobalt ore into cobalt sulfate. Starting in 2025, Managem Group will supply 5,000 tonnes of cobalt sulfate per year for seven years, supporting Renault Group's ambition to achieve an annual production capacity of up to 15 GWh of batteries.
Gianluca De Ficchy, Renault Alliance's purchasing director, emphasized the importance of traceability and decarbonization of battery raw materials. The agreement ensures long-term traceability of the carbon dioxide emissions in the supply chain and reduces its environmental impact, marking a step towards reducing the environmental footprint of electric vehicles.
The agreement between Renault Group and Managem Group is a significant stride towards Renault's goal of achieving carbon neutrality in Europe by 2040. It also aligns with the company's target to reduce its battery carbon dioxide footprint by 20% by 2025 and 35% by 2030 compared to 2020 levels. This strategic partnership supports Morocco's electric mobility sector and promotes sustainable mining practices.
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