Chinese battery manufacturer CATL is setting up a new battery recycling hub in Foshan at a cost of 23.8 billion yuan (EUR 3.2 billion).
CATL’s subsidiary Brump is building the site in the Guangdong region which will have an annual processing capacity of 500 000 tonnes. The hub will treat mainly cathode materials from LFP and NMC cells as well as graphite from anodes and the recycled material will be used in the production of new batteries.
CATL expects the facility to be completed by 2027. It is the second battery plant under development, the company having broken ground at a similar site in Yichang in late 2021.
The recent growth in battery recycling activity is mainly sparked by increased sales in electric cars and other battery-powered devices. For example, the China Passenger Car Association reports that 5.7 million EVs and plug-ins were sold China in 2022. The market share of such vehicles is projected to be 35% in 2023, up from 27% last year and around 15% in 2021.