SMM: it is reported that BMW Group will cooperate with German recycling company Duesenfeld to recycle 96% of electric vehicle batteries in the future.
Recently, BMW announced a sustainable development strategy by 2030, saying that one of the key factors to achieve a circular economy is the recycling of high-voltage batteries for electric vehicles.
BMW and Duesenfeld plan to "develop a recycling method with a battery recovery rate of up to 96 per cent, including graphite and electrolytes". 96% is a huge improvement, almost equivalent to the recovery rate of lead-acid batteries (99%). At present, the European Union requires at least 50% of high-voltage batteries to be recycled, and the industry average may not be much higher than that standard.
BMW has been recycling used batteries around the world, even in markets where there are no regulations. These old batteries are first used for re-use, usually as energy storage, and then recycled. Other car companies are also looking to improve the recycling of batteries. Volkswagen announced a recovery target of 97% (initially 72%); Futeng said the recovery rate would exceed 80%.
In recent years, the scale of battery recycling market is growing. According to a report released by market research firm ReportLinker, the global battery recycling market is expected to grow by $5.77 billion from 2020 to 2024, with an average compound annual growth rate of 9 per cent.
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