Different approach
Electric car battery costs can be reduced in several ways. For example, by extracting more raw materials ourselves or by reusing raw materials. BMW believes more in the latter than in expanding ‘own’ mining.
There are plenty of ways to make EV batteries cheaper. Making batteries more efficient is essentially the most logical way. It can also make a difference which type of battery you use and which raw materials are required. Ultimately, the costs are largely in those raw materials. To respond to this and to guarantee an adequate supply of raw materials, numerous car manufacturers are expanding their mining activities. BMW says it does not so much seek refuge in raw material extraction, but in battery recycling.
Chief financial officer Nicolas Peter explains opposite Reuters that BMW will mainly focus on the availability of raw materials from recycled batteries for the future. “In our opinion it is not good to invest in mining. We think it is more important to recover raw materials from cars and other products.” Peter states that BMW trusts that external parties will eventually see reason to invest in large-scale recycling for raw material supply to BMW due to the increasing demand for electric models. That sounds a bit risky, but undoubtedly things are being set in motion behind the scenes.
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– Thanks for information from Autoweek.nl