1. The market size is still in its infancy: due to the late large-scale application of lithium batteries, the number of scrapped lithium batteries in the early stage is small, and the current global lithium battery recycling industry is still in its infancy. In 2021, the theoretical recycling amount of lithium batteries in my country will reach 597,000 tons, while the actual recycling amount will be 236,000 tons, accounting for 38.5% of the actual recycling amount. With the expansion of China's new energy vehicle market, the installed capacity of power batteries has increased year by year. At the same time, the application of lithium batteries in electric tools, 3C electronics, electric two-wheeled vehicles and other fields has also continuously promoted the increase in lithium battery shipments. These batteries are approaching their service life, and the amount of lithium battery scrap will further increase in the future.
2. Policies to promote market development: Judging from the intensive introduction of a number of power battery recycling laws, regulations and standards by the Ministry of Industry and Information Technology, the National Development and Reform Commission, the State Council, the Ministry of Environmental Protection, and the Ministry of Commerce, the country pays great attention to the field of lithium battery recycling. Promote the recycling of lithium batteries. On October 19, 2021, the Ministry of Industry and Information Technology stated that it will accelerate the promotion of power battery recycling legislation, improve regulatory measures, etc., and accelerate the promotion of new energy vehicle power battery recycling from the aspects of regulations, policies, technologies, standards, and industries.
3. The company is actively deploying recycling business: Last year, CATL's holding subsidiary planned to invest in the construction of an integrated battery material industrial park project with a total investment of no more than 32 billion yuan in Yichang City, Hubei Province. Huayou Cobalt is also actively deploying lithium battery recycling business, and signed a "Strategic Cooperation Agreement" with Funeng Technology. The agreement also includes waste and waste battery recycling, procurement and cooperation of ternary precursors, etc. After GEM signed power battery recycling agreements with more than 200 vehicle manufacturers and battery factories around the world and started cooperation, it also signed a cooperation agreement with Ruipu Energy to realize the safe recycling, storage and green disposal of lithium-ion batteries.
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