Chinese electric vehicle maker BYD has confirmed plans to open a battery recycling plant in Shanghai.
A BYD spokesperson told BBB the plant would go ahead but said a date for the project’s start had yet to be fixed.
The spokesperson confirmed the plans would form part of efforts to reduce raw material costs and help to address battery waste.
Earlier this year, it was reported that BYD was set to start operations at a new CNY4 billion ($636 million) lithium-ion battery production plant in western China this June.
The first of three production lines expected to start rolling at the plant in Xining, Qinghai Province, would have an annual production capacity of 10GWh, according to China’s state Xinhua News Agency.
Last year, BYD formed a partnership with two other Chinese companies for lithium battery materials production— the Qinghai Salt Lake BYD Resources Development company.