(Yicai Global) May 9 -- China's biggest battery recycler of GEM Co. will team up with auto heavyweight BAIC Group to jointly carry out recycling and re-utilization of batteries from new energy vehicles (NEVs) as part of efforts to address challenges in dealing with scrapped cars while also opening up a new environmental industry
Shenzhen-based GEM has signed a cooperation agreement with BAIC sales unit Beijing Penglong Automobile Services and Trade Co. to build a battery scrapping network in the northern Beijing-Tianjin-Hebei region, it said in a statement.
The two parties will contribute technology and capital resources for the project while also working together on product development and marketing.
The partnership will leverage Beijing Penglong's existing automobile marketing network to jointly build the recycling system. Power cells collected will be batteries sent to GEM for subsequent disassembly and disposal. The process will also include a management system enabling the traceability for a battery's entire lifecycle.
The pair also plans to team up in businesses such as auto disassembly and recycling, service outlets for NEV power battery replacements and charging, battery repair, and emergency relief, the statement added.
The cooperation will help build a battery recycling channel between the company and major NEV industrial groups, which is of great significance to the company's aims of establishing the world's leading power battery recycling network.
Editor: William Clegg