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(Photo=Hyundai Glovis) |
[Alpha Biz= Reporter Kim Jisun] Hyundai Glovis Teams Up with Chinese EV Battery Recycling Firm to Build Post-Use Battery Supply Chain
Hyundai Glovis is partnering with Chinese EV battery recycling company Huayu Recycling to establish a supply chain for post-use batteries. On August 5, Hyundai Glovis announced that it had signed a Memorandum of Understanding (MOU) with Huayu Recycling at its headquarters in Zhejiang Province, China. Huayu Recycling is a subsidiary of Huayu Cobalt, the world's largest battery raw material producer.
Under the agreement, both companies will collaborate to build a recycling and circular system for used electric vehicle batteries. The MOU also includes cooperation on energy storage system (ESS) projects and the management of recycled battery supply chains.
Huayu Recycling collects used EV batteries from over 100 locations across China. Hyundai Glovis will benefit from Huayu Recycling's expertise in recycling and reusing used batteries.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
