South Korean battery maker LG Energy Solution (LGES) announced a recycling joint venture with Huayou Recycling of China.
LGES said the JV will oversee the construction of two battery recycling plants in China:
- a pre-treatment plant in Nanjing, where LGES already makes batteries
- a post-processing plant in Quzhou. This is a strategic location and will utilise Huayou Cobalt’s pre-existing infrastructure.
Production is due to start in late 2024. Battery scrap from LGES’ Nanjing plant and waste batteries from Huayou Recycling will be delivered to the JV to produce recycled metals. The nickel, cobalt and lithium will be processed and supplied back to LGES’ Nanjing plant.
LGES said by situating the pre-treatment and post-processing facilities near the Nanjing facility, it will be able to establish a more solid closed-loop recycling system in China.
Photo: LGES and Huayou Recycling signed a JV agreement at Huayou Cobalt’s Tongxiang headquarters in China on August 7.
