On 7th August 2023, LG Energy Solutions signed an agreement with Huayou Cobalt to set up a joint venture to build two battery recycling plants in China.  

Pre-treatment plant in Nanjing

The partnership was first raised in July 2022. According to the agreement, the joint venture will build a pre-treatment plant in Nanjing, Jiangsu and a post-treatment plant in Quzhou, Jiangsu. The construction of recycling plants would include two phases and is likely to start operation by the end of 2024. Eol batteries and production scrap from LG Energy Solution will be sent to the Nanjing plant for black mass production and then to the Quzhou plant for refining. Recovered materials will be sent to LG Energy Solution’s plant in Nanjing for battery manufacturing. Both sides also mentioned they will further strengthen their partnership on battery recycling and overseas expansion. 

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Image credit: lgensol.com