Illustration: Aïda Amer/Axios

Two European industrial firms announced on Monday a joint venture to recycle battery materials and aluminum from electric vehicles in Norway, where EVs are gaining substantial market share.

Driving the news: The Swedish company Northvolt and the Norwegian aluminum giant Norsk Hydro plan to establish initial recycling operations next year.

  • The company also plans to have a "full-scale recycling plant" at the big battery factory it's building in Sweden.
  • Overall, Northvolt aims to source half its raw materials from recycled batteries within 10 years.

Why it matters: Recycling efforts can cut the ecological footprint of EVs, and the "circular economy" is a pillar of the European Union environmental strategy — it's even name-checked in a major pandemic stimulus proposal last week.

  • And per the Financial Times (subscription), which first reported the joint venture, the Northvolt-Norsk Hydro JV is "part of Europe’s effort to build a green battery industry to take on Tesla and Asian rivals."

What they're saying: "The partnership with Hydro is an important piece of the puzzle to secure an external feed of material before our own batteries begin returning back to us," Emma Nehrenheim, a top environmental exec at Northvolt, said in announcing the plan.

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Sep 4, 2020 - Economy & Business

Battery firm QuantumScape taps public markets

Illustration: Aïda Amer/Axios

Yet another transportation startup plans to take the shortcut to an IPO and this time, it's a battery company.

What's happening: QuantumScape, a battery startup backed by Volkswagen and Bill Gates, said on Thursday it plans to go public through a reverse merger with Kensington Capital Acquisition Corp.

Trump agrees to TikTok deal "in concept"

Illustration: Sarah Grillo/Axios

President Trump on Saturday said he approved "in concept" a deal whereby TikTok will be allowed to continue operating in the U.S., with Oracle as its "trusted technology partner."

Why it matters: TikTok has nearly 100 million U.S. users, and is still growing fast. Trump has threatened to ban it, due to data privacy concerns related to TikTok's ownership by Chinese tech company

Updated 54 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 6:15 p.m. ET: 30,611,684 — Total deaths: 953,820— Total recoveries: 20,836,867Map.
  2. U.S.: Total confirmed cases as of 6:15 p.m. ET: 6,756,781 — Total deaths: 199,090 — Total recoveries: 2,556,465 — Total tests: 93,150,052Map.
  3. Politics: In reversal, CDC again recommends coronavirus testing for asymptomatic people.
  4. Health: The dwindling chances of eliminating COVID-19.
  5. World: Guatemalan president tests positive for COVID-19 — The countries painting their pandemic recoveries green.