Hanoi (VNA) – VinES Energy Solutions (VinES), a member of Vietnamese private conglomerate Vingroupand Li-Cycle Holdings Corp. (Li-Cycle), an industry leader in lithium-ionbattery resource recovery and a leading lithium-ion battery recycler in NorthAmerica, have signed an agreement for a long-term recycling relationship.
Under the terms of the agreement, from 2024,Li-Cycle will become VinES' strategic and preferred recycling partner forVinES' Vietnamese-sourced battery materials.
The company is considering the possibility of constructing a specialised battery recycling factory (Spoke) located closeto VinES' manufacturing site in central Ha Tinh province.
The potential Spoke has the opportunity tobenefit from the growing local demand for lithium-ion battery recyclingsolutions, driven by strong economic growth and an increasing manufacturingpresence in Vietnam.
An investment decision regarding the dedicatedSpoke facility is expected to be made in 2025. In the meantime, Li-Cycle willfacilitate the processing of VinES' material utilising Li-Cycle's NorthAmerican Spoke network.
Pham Thuy Linh, CEO of VinES, said that recyclingbattery production scrap and used batteries into the global mobility and energystorage industries can contribute to the building of a sustainable supply chainwhile reducing environmental impact.
Tim Johnston, Co-founder and ExecutiveChair of Li-Cycle, said that the agreement supports the firms’ shared goals ofcreating a sustainable and a closed-loop battery supply chain.
To build on a partnership first announcedin October 2022, VinES and Li-Cycle will also continue to explore globalrecycling solutions for VinFast, the first global electric vehicle (EV)manufacturer in Vietnam and Southeast Asia.
Earlier, VinES has recently commissioned alithium-ion battery cell manufacturing facility in Hai Phong, Vietnam, and expectsto further expand its production capacity in the country.
Li-Cycle opened an office in Singapore inDecember 2022 to support its connectivity to the Asia market and its efforts tocontinue building and expanding its commercial relationships with Asia-basedmanufacturers./.
Under the terms of the agreement, from 2024,Li-Cycle will become VinES' strategic and preferred recycling partner forVinES' Vietnamese-sourced battery materials.
The company is considering the possibility of constructing a specialised battery recycling factory (Spoke) located closeto VinES' manufacturing site in central Ha Tinh province.
The potential Spoke has the opportunity tobenefit from the growing local demand for lithium-ion battery recyclingsolutions, driven by strong economic growth and an increasing manufacturingpresence in Vietnam.
An investment decision regarding the dedicatedSpoke facility is expected to be made in 2025. In the meantime, Li-Cycle willfacilitate the processing of VinES' material utilising Li-Cycle's NorthAmerican Spoke network.
Pham Thuy Linh, CEO of VinES, said that recyclingbattery production scrap and used batteries into the global mobility and energystorage industries can contribute to the building of a sustainable supply chainwhile reducing environmental impact.
Tim Johnston, Co-founder and ExecutiveChair of Li-Cycle, said that the agreement supports the firms’ shared goals ofcreating a sustainable and a closed-loop battery supply chain.
To build on a partnership first announcedin October 2022, VinES and Li-Cycle will also continue to explore globalrecycling solutions for VinFast, the first global electric vehicle (EV)manufacturer in Vietnam and Southeast Asia.
Earlier, VinES has recently commissioned alithium-ion battery cell manufacturing facility in Hai Phong, Vietnam, and expectsto further expand its production capacity in the country.
Li-Cycle opened an office in Singapore inDecember 2022 to support its connectivity to the Asia market and its efforts tocontinue building and expanding its commercial relationships with Asia-basedmanufacturers./.
VNA
