Kia announced on the 9th of October it had signed a multistakeholder memorandum of understanding (MoU) for an EV battery recycling partnership. The partnership aims to form a pilot project to create a circular battery ecosystem. The partners include Eva Cycle, Ecopro, Hyundai Glovis, North Gyeongsang Provincial Government and Gyeongbuk Technopark.
A Vertical Partnership
Kia will manage the project as well as providing the batteries for feedstock. Eva Cycle will receive the batteries for dismantlement and black mass creation. Ecopro will then extract critical minerals to produce cathode materials. North Gyeongsang Provincial Government and Gyeongbuk Technopark will engage in regulatory matters and aim at creating an accommodating environment for technology development. Alongside this, Hyundai Glovis will assess the economic viability of the battery recycling industry as a whole.
The inclusive scheme, involving battery industry stakeholders from manufacturers to recycling companies and local governments, offers a holistic solution. Moreover, the project focuses on stringent standards for assessing battery residual value. This approach will enable realistic analysis of recycling feasibility and new business prospects.
This announcement comes after…
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