(Yicai Global) Nov. 20 -- Golden Dragon Bus, a Chinese new energy vehicle maker, has inked a deal with Guanghua Sci-Tech on recycling batteries.

Under the agreement, Golden Dragon will send waste battery cores and modules as well as retired batteries that meet recycling standards to the Guangzhou-based company, Guanghua said in a statement. The parties will also build a recycling network for waste power batteries to guarantee orderly reprocessing and disposal.

Guanghua has been actively expanding the market for salvaging waste power batteries and signed a similar deal with Penglong Automobile Services and Trade, a unit of car giant Beijing Automotive Industry Holding.

Golden Dragon has assembly lines for medium-sized and large buses at its Nanjing headquarters, with vehicles mainly ranging from 4.1 meters to 12 meters in length.

Editor: William Clegg