Chinese battery manufacturer Contemporary Amperex Technology Co Ltd, better known as CATL, is to invest around RMB 32 billion ($A6.7 billion) in a battery material recycling facility in the central Chinese province of Hubei.
Battery cells made by CATL are supplied to major EV names such as Tesla, NIO, and Volkswagen – and current numbers will ramp up in years to come, necessitating the development of processes to manage battery end-of-life recycling.
Currently, companies around the world are investigating various roles for EV batteries after they complete their effective lifespan in a vehicle. EV batteries still have significant capacity after their usefulness is ended for EVs, which means that they can be used in static energy storage projects and other roles.
At the end of the day, however, batteries will need to be recycled, and their core materials filtered out to be reused, if the industry is to remain sustainable over the long term.
Hence the need for the Bangpu Integrated Battery Material Industrial Park, which will recycle battery cathode materials such as lithium and cobalt.
CATL hopes that in addition to building a complete lifecycle plan for batter materials, the new facility will also improve the industrial development of the region, helping to build up linked businesses that can improve synergy, ensure battery material supply, and create a lifecycle for the entire battery industry chain.