Chinese lead-acid battery giant Camel is to build a pilot lithium-ion battery recycling and anode material production plant in Central China.
Camel said plans for the CNY5 billion ($791 million) facility is part of a “framework agreement”, signed with Hubei Province’s Gucheng County government, to create an industrial park for recycling and “cascade utilisation” of used lithium-ion batteries from electric vehicles, as well as the regeneration of battery materials.
The project will be built in two phases over the next six years, Camel said in a Shanghai Stock Exchange announcement.
The battery maker said the project includes building a pilot 500-ton power battery recycling line and a demonstration unit that could process 20,000 tons of power batteries annually. The company said the anode material production line is expected to start up in 2025.
BBB reported earlier this month that the Chinese government had drawn up a list of interim measures governing the recycling of batteries from the country’s fast-developing new energy vehicle (NEV) market.
Under these interim measures, NEV manufacturers will be responsible for automotive battery recycling and battery producers will have to share battery disassembly and storage technology with carmakers.