The company has teamed up with battery giant CATL to make progress in its EV battery recycling program..
The Swedish automaker was one of the first to announce its intention to fully electrify its own model range.. Volvo is now looking at ways to reduce its carbon footprint by reusing key battery materials.
Volvo also recently released its last diesel car and stopped producing them forever.. In 2023, sales of Volvo electric models increased by 70% to 113,000 models.
It is expected that the current figure will break this record, because the inexpensive EX30 model has appeared in the Volvo line and several more new products are planned to debut. Volvo expects electric vehicles to make up 50% of total sales by the end of next year as it works towards an all-electric range until 2030.
Therefore, the company joined forces with CATL. Under the terms of the agreement, the companies will disassemble old and destroyed electric vehicle batteries to reuse 90% of their materials, such as nickel, cobalt, lithium and others.
Volvo says CATL will use these materials to produce new batteries that will use the brand's new products.. This agreement is an extension of the agreement between Volvo and CATL to supply batteries for Volvo and Polestar electric models.