BYD, A Chinese electrical car maker, will soon open a battery recycling plant on an unfixed date in the second quarter. The move is driven by environmental protection responsibilities with secondary concerns related to the rising costs of EV battery materials.
The site will open in Shanghai, but BYD has been running trials for a year in the city of Shenzen. They have asked their government to create guidelines and offer support for this process that is new to everyone. The company’s goal is to increase yearly battery production capacity by 75%.
Read more at Reuters