Hyundai Glovis, a logistics company affiliated with the Hyundai Group, has invested in the Korean battery recycling firm ER in a bid to strengthen its competitiveness in the battery recycling market. Under the terms of the investment agreement Hyundai Glovis (hereafter referred to as Glovis) has acquired the rights to utilise ER’s pre-processing facility and technology. No details were released on the size of the deal.
Hyundai Glovis Places Itself in a Strong Position
ER’s technology focuses on the production of black mass, or the ‘pre-treatment’ of end of life (EoL) batteries. With the acquisition of ER, Glovis is firmly integrating itself into the circular supply chain from collection, to transport to black mass production.
Glovis plays an important role in…
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