The carmaker Kia has set out plans to create a sustainable value chain across the EV battery industry, by working with its stakeholders to foster a circular economy.
The carmaker’s Memorandum on Understanding will help create a sustainable value chain across the EV industry by initiating a project which draws on collaborative understanding.
Participating companies will include companies specialising in battery disassembly and raw material extraction – as well as the Korean government. It represents an innovative endeavour which helps forge a cooperative system across the entire EV industry.
Using detailed data from across the value chain, for instance on raw material extraction, battery production and installation, as well as recycling batteries at the end of life – the carmaker will analyse how it can promote new business opportunities and contribute to the development of a robust industrial system.
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“Kia Motors will transform itself into a ceaselessly innovative brand by accelerating its bold and ceaselessly innovative brand by accelerating its bold and preemptive transition to future businesses,” said president and CEO Han-Woo park while speaking at an event, which was attended by EV magazine.
“As the auto industry undergoes turbulent changes, today is also an opportune time for Kia Motors to radically transform itself into a global enterprise dedicated to spearheading customer value-led innovations.”
The move from Kia, follows a recent announcement by British carmaker Volvo that it will produce its last diesel car in 2024.
UK Prime Minister Rishi Sunak recently pushed back the ban on petrol and diesel cars from 2030 to 2035, as part of a U-turn on a range of net zero policies.
