Stellantis and Orano Cancel Joint Venture

(Reuters) – Franco-Italian automaker Stellantis (NYSE:STLA) and French nuclear fuels firm Orano have dropped their planned joint venture to recycle electric car batteries, both companies announced on Wednesday.

The two firms had signed a memorandum of understanding last year that aimed to recycle used electric vehicle batteries and scrap materials from Stellantis gigafactories in Europe and North America, with production set to begin in early 2026.

“Stellantis and Orano will not finalize the intended joint venture for recycling end-of-life electric vehicle batteries and scrap,” the companies stated, adding they are exploring other potential commercial relationships.

The collaboration would have provided Stellantis, the parent company of brands such as Peugeot (OTC:PUGOY), Fiat, and Jeep, with greater access to essential materials like cobalt, nickel, and lithium needed for electrification and energy transition.