Electric vehicles are becoming the new normal in Norway. But with this green shift comes a growing challenge: what do we do with all the used EV batteries? These batteries contain valuable materials like lithium, cobalt, and nickel – resources that are both environmentally sensitive and geopolitically vulnerable.

The EU is already moving fast, with new regulations around battery passports, material reuse, and recycling. Norway, however, is lagging behind in implementation. This creates a window of opportunity – and a responsibility – for companies like Gjensidige to take an active role.

We want to explore circular business models that give EV batteries a second life – and reduce risk, waste, and emissions.

As one of Norway’s largest insurance companies, Gjensidige is in a unique position. We are closely connected to both private and commercial EV owners. We manage claims, assess damages, and engage with vehicles throughout their lifecycle. This gives us early insight into a new type of risk – and a chance to shape new value chains.

We believe there’s huge potential in circular battery solutions. By acting now, we can help secure raw materials, reduce environmental impact, and explore entirely new products and services.

We're looking to collaborate with startups and technology partners to:

• Identify and test circular business models for EV batteries (reuse, second-life, or material recovery)

• Explore data-driven tools for tracking and assessing battery condition

• Develop new services or products that could be integrated into insurance offerings

• Navigate regulatory opportunities and barriers in light of the EU Green Deal and sustainability frameworks

We know this isn’t just about managing risk. It’s about creating impact – and value.