YEONGGWANG, Jul. 29 (Korea Bizwire) — South Korea’s first electric vehicle (EV) battery recycling firm will be established in Yeonggwang Country, South Jeolla Province.
County officials announced on Saturday that the construction project for the new recycling center recently began in the Daema Industrial Complex, a regulation-free zone for the e-mobility industry.
The center will be in charge of disassembling EVs and recycling used batteries. It is South Korea’s very first center dedicated to the disassembly of EVs and battery recycling at a single location.
Earthtech Co., a South Korean company, will be investing 24 billion won (US$20.2 million) in the project to complete the first phase of construction by March of next year.
The new center will be comprised of disassembling facilities, performance testing grounds for used batteries, and other facilities for various tests and examinations.
The used batteries, depending on their condition and capacity, will be recycled as Energy Storage Systems (ESS).
The center will offer other services including the retrieval of lithium, nickel, cobalt, and other valuable metals, and will conduct various research and business projects on batteries for electric cars.
Recycling batteries from EVs is a business with complex environmental restrictions. In addition, acquiring related technology and the process of collecting used batteries are both difficult.
Earthtech will store all scrapped cars indoors and disassemble them through eco-friendly methods.
The company is reportedly capable of disassembling 5,000 EVs and processing 2,000 tons of used batteries every year.
M. H. Lee (firstname.lastname@example.org)