BMW, Huayou Recycling team up on closed-loop recycling of power battery raw materials

Shanghai (Gasgoo)- BMW Group on May 25 announced that it has forged a partnership with Zhejiang Huayou Recycling Technology Co., Ltd. (“Huayou Recycling”) to co-develop innovative cooperation model on closed-loop recycling and cascade utilization of power battery raw materials.

BMW Brilliance, Huayou Recycling signing agreement; photo credit: BMW Group

Under the agreement, BMW Brilliance and Huayou Recycling will jointly work on dismantling power batteries, from which such core raw materials as nickel, cobalt, and lithium will be extracted through Huayou Recycling's advanced green metallurgical technology and then provided to BMW’s suppliers for producing all-new power batteries.

The German premium carmaker said the closed-loop battery materials management model will make full use of decommissioned batteries and reduce the carbon emissions generated in the mining process by 70%, so as to significantly decrease the carbon footprints in power battery’s full lifecycle.

Signing of the new agreement means that both parties have deepened their existing collaboration, which was formed as early as 2020 to co-work on the cascade utilization of decommissioned power batteries in factory-used forklifts. The newly-formed cooperation will see the duo spread the used battery application over all facilities at BMW's Shenyang manufacturing base.

Huayou Recycling is a wholly-owned subsidiary of Zhejiang Huayou Cobalt Co., Ltd. (“Huayou Cobalt”), a Chinese leading supplier of lithium-ion battery materials and cobalt materials.