Collab with GM is a key step in Lithion’s commercial development, says the recycling company’s head
General Motors’ investment arm, GM Ventures recently made a strategic investment in Lithion Recycling Inc. It must be noted that GM entered into this strategic partnership agreement to pursue a circular battery ecosystem using Lithion’s advanced battery recycling technology. The automaker invested via Lithion’s Series A financing round.
In addition to joint investment in R&D for both recycling processes and recyclability of future battery design, as per the official statement, the two companies will work together for the validation of Lithion’s recovered battery materials for use in the production of new batteries, and the potential to acquire battery materials.
The President and CEO of Lithion, Benoit Couture stated: “Working with GM marks a key step in Lithion’s commercial development and pioneers a needed breakthrough in the electrification of transportation by enabling a cost-effective and sustainable circularity in the EV battery industry.”
Jeff Morrison, GM VP, Global Purchasing and Supply Chain commented: “GM is aggressively scaling battery cell and EV production in North America to reach our target of more than 1 million units of annual capacity by 2025, and we plan to eliminate tailpipe emissions from all our new light-duty vehicles by 2035 – so we are building a supply chain and recycling strategy that can grow with us.”
General Motors claims to focus on advancing an all-electric future that is inclusive and accessible to all, and its Ultium battery platform aims to power everything from mass-market to high-performance vehicles. Lithion, on the other hand, claims to have developed an efficient and cost-effective process to recover strategic materials from end-of-life and industrial waste of lithium-ion batteries.