Two Sessions: Opinions Concerning Chinese Power Battery Recycling Industry

SHANGHAI, Mar 9 (SMM)－

Geely Chairman: Average recycling rate of nickel and lithium from Chinese NEV power batteries exceeds 95%

Li Shufu, a member of the Chinese People's Political Consultative Conference and chairman of Zhejiang Geely Holding Group, listed three characteristics of the development of the NEV industry in China. 1. The industry bears clear and specific development strategy, direction and goals. 2. The nation implements and promotes related policies strictly and orderly. 3. Chinese NEV industry has always been developing based on a green, energy-saving and low-carbon ecological chain system. The overall recycling capacity of China’s new energy vehicle industry is growing. For example, the average recycling rate of nickel and lithium from lithium-ion batteries exceeds 95% in China, which is very green and environmentally friendly. As China's new energy vehicle industry continues to expand in scale and improve in technology, the production costs are also falling and the consumer experience is getting better. Many dazzling NEVs have emerged in China, which greatly attracted consumers and boosted the Chinese economy.

Chairman of Tianneng Group: Chinese demand for recycled power batteries will reach 137.4 GWh in 2025

Zhang Tianren, deputy to the National People's Congress and chairman of Tianneng Group, pointed out in 2023 Two Sessions that the capacity of power battery scrap to be recycled in China is expected to reach 1.374 GWh (about 1.1 million mt) in 2025, five times more than in 2020. At the same time, due to the shortage of lithium resources and the soaring prices of raw materials, there is an urgent need to explore new technologies for battery scrap recycling and accelerate the layout of the power battery recycling industry.