South Korean car maker Kia is to establish a pilot project with government and private businesses to oversee all aspects of the electric vehicle (EV) battery value chain, from raw material extraction to recycling.
Kia said it wanted to create a circular ecosystem for EV batteries and enhance their residual value. It also plans to set up a battery as a service (BaaS) through initiatives such as battery subscription and battery remanufacturing.
“The collaboration is crucial to evaluate the economic feasibility of EV batteries as the number of electric vehicles continues to rise, leading to an accelerated accumulation of used batteries. The initiative is essential to verify the battery recycling process and utilise previously used batteries for optimum effect,” the company said.
The parties will collect detailed data at each stage of the value chain of EV batteries, it said. This goes from raw material extraction, battery production and installation in EVs to recycling at end of life.
The results of the pilot project will be carefully analysed and utilised to promote new business opportunities, Kia said.