Orano and XTC New Energy create two JVs dedicated to the production of batteries for electric vehicles
Clients Orano SA
Jones Day is advising Orano in the context of the setting-up of two joint-ventures dedicated to the production of critical materials for batteries for electric vehicles, together with Chinese group XTC New Energy.
Under the terms of the agreements, Orano and XTC New Energy will combine their expertise to set up two production plants on a single industrial site in Dunkirk, in France's Hauts-de-France region. The deployment of this industrial site by 2026, which represents an investment of €1.5 billion, will contribute to the development in France of a value chain for the production and recycling of batteries for electric vehicles, as well as to French autonomy in the supply of strategic materials.
In the context of this project, Orano and XTC have entered into two joint-venture agreements on 16 May 2023. The implementation of the project is subject to the fulfillment of several condition precedents as well as the conclusion of various agreements that must specify the terms of cooperation between the two partners.