Renault secures its cobalt supply

By signing with the Moroccan Managem, the French manufacturer has secured a supply of cobalt for seven years, starting in 2025. From which to produce 15 GWh of batteries per year.

Ryad Mezzour, Moroccan Minister of Industry and Trade, Gianluca De Ficchy, Alliance Purchasing Director and General Purchasing Organization (APO) Director General, Imad Toumi President and CEO of Managem Group and Mohamed Bachiri , General Manager Renault Group Morocco.

Renault announced on Wednesday, June 2, 2022, that it had signed a cobalt supply contract with the Moroccan group Managem, one of the essential components of electric batteries. The contract, the amount of which has not been disclosed, provides for the delivery of 5,000 tonnes of cobalt sulphate per year for seven years, starting in 2025. A raw material that will allow an annual production of 15 GWh of batteries.

It provides for the production of cobalt ore from “low carbon“, thanks to the use of 80% of wind energy but also through the recovery of end-of-life battery materials.

Also read : Renault’s proposed spin-off is well under way

Global manufacturers are fiercely competing to secure their supplies of the rare metals needed to make batteries and the transition to power in their range of vehicles. U.S. electric carmaker Tesla, for example, has signed a mega-contract for nickel in New Caledonia.

In October 2021, Renault itself announced a nickel supply contract with the Finnish group Terrafame, after another contract, this time for lithium, with the German Vulcan Energy.

Renault aims to reduce its carbon footprint by 20% by 2025 and by 35% by 2030 compared to 2020, thanks in part to the Moroccan contract. The French group makes sure “thus a closer supply to our low-carbon electric battery manufacturing ecosystem in Europe“congratulated the purchasing director of the Renault-Nissan Alliance, Gianluca De Ficchy.

This agreement also complements Renault’s investments in Morocco, which are expected to reach a total of € 2.5 billion by 2025, for a total target of € 3 billion. (with AFP)

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