Recently, Zhejiang Huayou Green Energy Technology Co., Ltd. was established.
The company has a registered capital of 100 million yuan and is indirectly wholly owned by Huayou Cobalt. The business scope includes: resource recycling service technical consulting;Energy storage technology services;Battery sales;battery rental, etc.
Obviously, the establishment of a new company by Huayou Cobalt is intended to extend the industrial chain downstream.
Two major ** projects have landed"We are upstream and midstream enterprises, but we want to extend the industrial chain downward through joint ventures. Fang Yuan, deputy general manager of Huayou Cobalt, previously said. With the continuous development of new energy vehicles, the peak period of scrapping of power batteries is coming. After analysis and judgment by the Industrial Research DepartmentIt is estimated that by 2028, China's retired power battery packs will be about 3 million tons, and in 2030, they will be about 4 million tons. In recent years, Huayou Cobalt has taken the lead in seizing the outlet, actively laying out the lithium battery recycling business, and opening up the dual-channel resource guarantee of "** mines". At present, Huayou Quzhou, Resource Recycling and Jiangsu Huayou, subsidiaries of Huayou Cobalt, have all entered the list of enterprises that meet the "Industry Standard Conditions for Comprehensive Utilization of Waste Power Batteries for New Energy Vehicles" issued by the Ministry of Industry and Information Technology. In the view of Huayou Cobalt, the battery industry is an important part of the aftermarket of new energy vehicles, which will reshape the supply and demand pattern of lithium, cobalt, nickel and other metals in the future. The development of battery business will help enterprises build a new energy lithium battery industry ecology from cobalt, nickel and lithium resource development and smelting to resource recycling. According to reports,Huayou Cobalt is currently gradually laying out and expanding the lithium battery businessDuring the year, two major cooperation projects have been implemented. On July 7, Huayou Cobalt announced that it has completed the construction of a battery plant in South Korea of POSCO Huayou Recycling Korea, a joint venture with POSCO Group. The plant has a total investment of 120 billion won and an annual black powder processing capacity of 120,000 tons, on August 8, Huayou Cobalt announced that it had signed a joint venture agreement with LG New Energy to establish two joint ventures in Nanjing and Quzhou, namely pretreatment and regeneration metallurgy, and build two battery plants. It can be seen that Huayou Cobalt is actively carrying out the layout of battery production capacity around the world, continuing to expand the scope of radiation to South Korea and Indonesia, and creating a "circle of friends" for circular economy.
The next step is to enter EuropeThe first stop of Huayou Cobalt's battery ** business is South Korea.
In 2017, Huayou Cobalt began to lay out batteries**, and in the same year, it acquired a 70% stake in TMC, a South Korean lithium battery recycling company.
However, in 2021, Huayou Cobalt said that it had transferred its equity in TMC based on comprehensive considerations such as business development strategy, resource integration, and business structure optimization.
At the same time, in the context of market globalization and the gradual introduction of industrial protection policies in Europe, the European new energy market has opened rapidly.
Related companies, including Huayou Cobalt, are speeding up their efforts to replenish their business in Europe.
In May, Huayou Recycling reached a strategic cooperation agreement with battery manufacturer Hoppecke, and the two sides will cooperate in Europe to develop in-depth cooperation in the R&D and manufacturing center of cascade utilization products and the field of recycling pretreatment.
In July, Zhejiang Huayou Recycling signed a cooperation agreement with the Fraunhofer Institute for Applied Research in Germany, and the two sides will carry out extensive and in-depth technical exploration and research cooperation in the field of retired power battery recycling in Europe.
At this stage, there are different degrees of capacity gaps in the main upstream production links of lithium batteries in Europe, and batteries have become a key factor in the competition for energy security in the new energy era.
The European Commission's Critical Raw Materials Act, introduced in March, calls for more than 15% waste** to be met by 2030, making this area clear.
The EU Battery and Waste Battery Law, passed in August, also requires that the scrapped old batteries of new energy vehicles sold must be transported back to the place of production for ** disposal.
Local European companies Northvolt, Eramet, and EMR have announced investment in ** projects, and Redwood Materials, a US battery ** company, has also acquired Redux Recycling GmbH to start its expansion plan in Europe.
Driven by relevant regulations and trial productionThe industry expects the European market to grow battery capacity to 80GWh by 2030.