Taking the future into consideration, Renault Group signed an agreement with Managem Group to obtain sustainable Moroccan cobalt and together, create a transparent battery value chain.
Collaboration of Forces – Automotive and Mining
The Renault Group, a prominent organisation in the automotive industry, and the Managem Group, a leading Moroccan enterprise in the mining and hydrometallurgy sector, shook hands to announce the signing of a memorandum of understanding (MoU). This agreement states that the Managem Group will supply 5,000 tonnes of low-carbon cobalt sulphate every year for 7 years. The first delivery will be in 2025. The cobalt ore will be transformed into cobalt sulphate at a factory located within the Guemassa industrial complex, invested by Managem Group. Under this partnership, Renault Group aims to attain a significant supply of cobalt sulphate, increasing its annual battery production capacity to 15 GWh.
The agreement was signed in the presence of the minister of Morocco and the directors and chairman of the companies involved. The Renault Group and the Managem Group envision establishing themselves, eminently, in the sustainable mobility sector through cobalt electric batteries.
Positives of the Agreement for the Business and the Environment
With a traceable supply system of cobalt for batteries, the companies aim to reduce carbon footprint by 35% by 2030 and make the entire procedure of battery-making energy efficient. This agreement includes the possibility of this alliance expanding through the supply of manganese and copper sulphate, with the recycling of battery material. Through this agreement, Morocco looks forward to uplifting its automotive industry, with commitments made by Renault Group to develop Renault ecosystems in the country.