From 2024, Li-Cycle will become a strategic recycling partner for battery materials produced by VinES in Vietnam.

Under the cooperation agreement, Li-Cycle will evaluate the possibility of building a dedicated battery recycling plant (Spoke) located near VinES’ manufacturing plant in Ha Tinh, Vietnam. This battery recycling plant can benefit from the growing demand for lithium-ion battery recycling solutions, driven by strong economic growth and the growing presence of manufacturers in Vietnam.

An investment decision regarding the plant is expected to be made in 2025. Before the above timeline, Li-Cycle will use its network of battery recycling facilities in North America to implement a recycling agreement with VinES.

Li-Cycle is a leading company in lithium-ion battery recycling in North America. VinES is the only company in Vietnam that produces lithium-ion batteries with high technology and quality for electric vehicles, energy storage systems and other applications. The above-mentioned long-term battery recycling contract is a part of Li-Cycle’s strategy to improve recycling capacity and meet VinES’ recycling needs.

Ms. Pham Thuy Linh, General Director of VinES said: “By recycling battery manufacturing scrap and recirculating used batteries in the global energy mobility and storage industry, we can build a sustainable supply chain, while minimizing our impact on the environment. We believe that our strategic partnership will help both companies quickly materialize the mission to create a sustainable future for all.”

Mr. Tim Johnston, co-founder and Executive Chairman of Li-Cycle also said: “We are delighted to partner with VinES and become a recycling partner for batteries and battery materials manufactured by VinES in Vietnam. This partnership contributes to our goals of establishing a closed and sustainable battery supply chain.

The partnership agreement also enhances Li-Cycle’s position in the global market as a trusted recycling partner in the industry, as we continue to strengthen our commercial cooperation and scale groundbreaking, eco-friendly battery recycling technology around the world.”

Previously, the two sides already had a partnership, first announced in October 2022. Accordingly, VinES and Li-Cycle will research global recycling solutions for VinFast, the first global pure electric vehicle manufacturer in Vietnam and Southeast Asia.

VinES and VinFast are both member companies of Vingroup, which is Vietnam’s largest private economic group. VinFast has now expanded into North America and Europe, with the goal of becoming one of the world’s leading automakers. Meanwhile, VinES specializes in researching, developing and manufacturing high-quality and technological batteries for electric vehicles, energy storage systems, meeting VinFast’s demands and other businesses. Recently, VinES has put into operation a lithium-ion battery production facility in Hai Phong and is expected to continue expanding its production capacity in Vietnam.

Li-Cycle has also opened an office in Singapore since December 12 to strengthen its connectivity to the Asian market as well as continue to build and expand trade relationships.

“Our office in Singapore represents an important connection point with Asia and we are excited to continue expanding Li-Cycle’s global footprint,” said Dawei Li, APAC Regional President, Li-Cycle. He added: “We are looking forward to supporting VinES in recycling needs and strengthening trade relationships in this important market.”

Source: autobikes.vn