LG Energy forms battery recycling venture

The agreement commits the two to building two factories in China – one for the pre-treatment of battery scraps and used batteries and the other for the extraction of metals in post-processing, LGES said. — Reuters

SEOUL: South Korean battery maker LG Energy Solution Ltd (LGES) says it has set up a joint venture with China’s Huayou Cobalt Co for battery recycling, as it diversifies supply channels to secure the stable sourcing of key raw materials.

The agreement, signed Monday, commits the two to building two factories in China – one for the pre-treatment of battery scraps and used batteries and the other for the extraction of metals in post-processing, LGES said.