Lithium Australia NL (AU:LIT) has released an update.
Lithium Australia has entered a three-year exclusive agreement with Volvo Group Australia to recycle end-of-life lithium-ion batteries from Volvo’s electric and hybrid bus fleet, aiming to boost the recycling of large format batteries with higher margins. This partnership is part of the company’s strategy to expand its recycling services by working with major electric vehicle and energy storage system manufacturers, and is anticipated to help Lithium Australia reach cashflow breakeven in the near future.
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