Renault, Managem Partner for Low-Carbon Cobalt, Boosting EV Sustainability in Morocco
Renault Group and Managem Group have signed a Memorandum of Understanding (MoU) for a significant supply of low-carbon cobalt sulphate. This deal aims to reduce the environmental footprint of electric vehicles and support Morocco's automotive industry.
The agreement involves Managem Group investing in a factory in Morocco to transform cobalt ore into cobalt sulphate. Renault Group has guaranteed a substantial supply, representing an annual battery production capacity of up to 15 GWh. The first delivery is scheduled for 2025.
The partnership aligns with Renault Group's goal to reduce the carbon footprint of its batteries by 20% by 2025 and 35% by 2030. Managem Group will supply 5,000 tonnes of cobalt sulphate per year for 7 years, starting in 2025. The companies aim to reduce environmental impact through energy efficiency and green energy use.
The signing, witnessed by Moroccan and Renault Group officials, marks a step towards reducing the environmental footprint of electric vehicles. It also supports the development of the Moroccan automotive industry and strengthens Morocco's position as a producer of critical materials for batteries.
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