On August 9, Yiwei Lithium Energy signed a memorandum of cooperation with G20-Summit Lithium Battery Member GEM to "lock in" the directional circulating supply of over 100,000 tons of recycled nickel products.
According to the agreement, GEM will recycle nickel products to supply Yiwei Lithium Energy, and Yiwei Lithium will supply scrap nickel-containing power batteries and battery waste to GEM, building a "power battery recycling-battery raw material recycling-battery material recycling-power battery recycling" The full life cycle value chain of power batteries and the global green supply chain of nickel products.
Starting from 2024, GEM has promised to supply more than 10,000 tons of recycled nickel products (including nickel sulfate, ternary precursors and ternary materials) to Yiwei Lithium Energy. The cooperation period will extend from the beginning of product supply10 Years, and the number can be increased and the cooperation period can be extended as needed.
In accordance with future development needs, the two parties are actively studying the establishment of power battery recycling and nickel resource recycling plants around the world to ensure the green supply of the global industrial chain of Yiwei lithium energy.
Since the beginning of this year, Yiwei Lithium Energy has intensively deployed the upstream industrial chain, including the simultaneous acquisition of Jin Kunlun and Dahua Chemical's two lithium salt targets; the construction of a laterite nickel hydrometallurgy project in Indonesia with Huayou International Cobalt; and SKI, BTR established a high-nickel ternary cathode material company in a joint venture; a joint venture with German Nano to build a lithium iron phosphate material project; participated in the fixed increase of Huayou Cobalt Industry.
In fact, the frequent "penetration" of the upstream of Yiwei Lithium is also a microcosm of power battery companies maintaining the stability of upstream materials and ensuring the supply of resources. In particular, the boom of the new energy vehicle market continues to rise, resulting in an increasingly tight supply of upstream resources. It even triggered the "snatching" of power battery companies.
This time Yiwei Lithium will extend its resources to the field of power battery recycling, which is also an important position for its deployment in the forward-looking market.
On the one hand, the peak period for the first round of power battery scrapping is approaching. According to industry estimates, the total market space for power battery recycling in 2019-2025 is expected to exceed 60 billion yuan, and the average compound growth rate for 2019-2025 is expected to reach 50%.
On the other hand, the resource products recovered through the power battery will also become an important supplement to the upstream resource supply of the power battery.
As a leading company in the field of resource recycling, GEM has a solid foundation in the construction of a recycling industry chain of "battery recycling-precursor material recycling-material recycling".
GEM has established a core technology system and standard system for waste battery recycling. There are more than 1,100 waste recycling patents, including more than 320 battery recycling patents. More than 20 core patents have been authorized in more than ten countries including Europe, America, Japan and South Korea. . Leading and participating in more than 30 national, industry and group standards.
And it has signed power battery recycling agreements and cooperated with more than 200 automakers and battery factories around the world. Three green dismantling lines for used power battery packs in Wuhan, Jingmen and Wuxi have been built, which can process 250,000 sets of used power battery packs annually.
GEM’s goal is that by 2025, the company's power battery recycling will exceed 250,000 tons per year, and it plans to cooperate with upstream and downstream companies around the world to build power battery recycling bases in Indonesia and Europe. The production and sales scale of ternary precursors exceeds 400,000 tons/year, and the production capacity of cobalt tetroxide exceeds 35,000 tons/year.