On March 12, Zhejiang Huayou Recycling Technology Co., Ltd. and Hyundai Motor Group officially signed a Memorandum of Understanding (MOU) in Korea to collaborate on the recycling and resource recovery of end-of-life power batteries.
Wei Bao, General Manager of Huayou Recycling, and Hokeun Chung, Executive VP and Head of Future at Hyundai Motor Group, attended the signing.
Both Korea and Indonesia play important roles in Asia’s new energy landscape. Korea is a global hub for electric vehicle and battery technology and manufacturing, while Indonesia is rapidly integrating into the global EV battery supply chain by leveraging its resource base and growing manufacturing capacity.
Against this backdrop, cooperation in end-of-life battery recycling not only strengthens industrial collaboration between the two parties in the circular economy for batteries, but also supports improved lifecycle management and more efficient use of critical resources. It also represents an important step for Chinese battery recycling companies to participate in the global new energy supply chain through technology and service capabilities.
Wei Bao noted that Huayou Recycling has been steadily expanding its global recycling service network in recent years, strengthening its capabilities in recycling networks, pretreatment, and key material recycling. Through partnerships with leading automotive and battery companies worldwide, the company aims to actively contribute to the development of global battery recycling systems.
As the global energy transition accelerates, cross-regional collaboration around battery resource recycling is becoming increasingly important. Stronger coordination across the value chain and the development of more robust recycling systems will be essential to supporting the long-term sustainability of the new energy industry.
