Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

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.

Go deeper

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.

Several states declare emergency over Colonial Pipeline shutdown

A sign warns consumers on the avaliability of gasoline at a RaceTrac gas station in Smyrna, Georgia, on May 11. The average national price of gasoline has risen to $2.985 a gallon, Bloomberg notes. Photo: Elijah Nouvelage/AFP via Getty Images

Reports of fuel shortages across the U.S. emerged on Tuesday as the national average for gasoline prices soared to its highest level since 2014 amid a key fuel pipeline shut down, per Bloomberg.

What's happening: Operator Colonial Pipeline aims to have service restored by the week's end following last Friday's ransomware attack that shut down some 5,500 miles of pipeline from Texas to New Jersey. The governors of Florida, Georgia, Virginia and North Carolina declared states of emergency Tuesday due to shortage concerns.

Reports: More than 100 Republicans threaten to form 3rd party over Trump

Former President Trump addressing the Conservative Political Action Conference in Orlando, Florida, in February. Photo: Joe Raedle/Getty Images

More than 100 Republicans will sign a letter Thursday threatening to create a third party if the GOP doesn't "break" with former President Trump, Reuters first reported.

Why it matters: Per Axios' Mike Allen and Jim VandeHei, Trump's grip on the GOP has gotten stronger since the Jan. 6 Capitol riot. The Republican Party's "allegiance to Trump" as he continues to make false claims about his 2020 election loss has "dismayed" the group, according to Reuters.