Energy Storage Giant Narada Power Source to Invest 3.85 Billion yuan in Battery Recycling

On the evening of February 20, Narada Power Source released an announcement that in order to further improve the company's lithium industry chain and to protect secure raw material supply, the company's subsidiary Narada Huabo New Materials will invest in the construction of 150,000-mt lithium-ion battery green recycling comprehensive utilisation project.

Specifically, the project, with an estimated investment of 3.85 billion yuan, will be constructed in two phases. The first phase mainly includes the facilities for lithium battery dismantling and repairing, hydrometallurgy lithium extraction, etc., and in the second phase, iron phosphate will be generated and lithium iron phosphate manufacturing lines will be constructed.