Shanghai (Gasgoo)- Chinese EV startup WM Motor and China Tower, a state-owned wireless infrastructure owner, signed a strategic cooperation agreement on October 31 that focuses on the cascade utilization and recycling of new energy vehicle (NEV) power batteries.
The government and the industry are attaching importance to the processing over retired EV batteries with the NEV population getting increasingly larger in China. The Notice on Organizing and Launching the Pilot Program of Recycling Traction Batteries of New Energy Vehicles was issued by Chinese authorities in February for the purposes of exploring technology and economy-efficient, resources and environment-friendly, and diversified modes of recycling waste traction batteries, and promoting the establishment of a recycling system.
China Tower is the world's largest telecoms tower operator whose base stations boast exceptional advantages on battery cascade utilization.
WM Motor has set the goal of delivering 10 thousand vehicles by the end of 2018 and 100 thousand vehicles next year. Under the EV startup's “three step” development strategy, the automaker is going to build itself into an intelligent EV impeller first, and then grow to an intelligent data-driven hardware provider and a smart mobility service provider finally.
WM Motor has started making layouts in EV battery cascade utilization and recycling with its battery recycling firm under construction. In addition, the startup has formed partnerships with Envision and State Grid Corporation of China to jointly develop IoT (Internet of things), environment-friendly charging service, R&D of battery management technology and other related businesses.
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