【Gree and Dongfeng Automotive Join Forces to Build Battery Recycling Business】

On the evening of March 19th, Gree announced that its wholly-owned subsidiary, Wuhan Power Battery Regeneration Co., Ltd., had signed a "Strategic Cooperation Agreement on the Construction of a Green Industry Chain for the Full Lifecycle of Power Batteries" with Dongfeng Automobile Group Co., Ltd., a wholly-owned subsidiary of Dongfeng Passenger Vehicle Sales Co., Ltd. According to the announcement, the two parties have decided to leverage their respective strengths to establish a full lifecycle value chain system for the recycling, resource utilization, and remanufacturing of waste power batteries. This will form a complete green recycling industry chain for power batteries and their waste, including the recycling of nickel, cobalt, lithium, and other valuable resources, guiding joint efforts among automobile manufacturers, battery recycling plants, material manufacturers, and battery manufacturers to achieve directional circulation from green scrap to green products. Together, they will create a globally competitive green supply chain and value chain, realizing the coordinated development of economic and environmental benefits.