UMICY Umicore SA (PK)

   By Max Bernhard 
 

German car maker BMW AG (BMW.XE), Belgian materials-technology and recycling company Umicore SA (UMI.BT) and Swedish battery company Northvolt are teaming up to develop a sustainable life cycle for batteries used in electric vehicles, the companies said in a joint statement Monday.

"The project is seeking to press ahead with the sustainable industrialization of battery cells in Europe and the associated acquisition of skills, from cell chemistry and development through to production and ultimately recycling," they said.

The partners said they plan to focus on developing recyclable battery cells that can be manufactured by using mostly renewable energy.

Write to Max Bernhard at max.bernhard@dowjones.com; @mxbernhard

(END) Dow Jones Newswires

October 15, 2018 07:06 ET (11:06 GMT)

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