On November 27, Huayou Recycling officially signed a cooperation agreement on new battery recycling technologies, along with a letter of intent for a joint venture, with Encory Group. The signing ceremony was witnessed by Rainer Feurer, Senior Vice President of Corporate Investments at BMW Group; Dr. Axel Schweitzer, Chairman of Interzero; and Chen Xuehua, Chairman of Huayou Cobalt.
Under the agreement, the two parties plan to establish a joint venture focused on EV batteries and related application sectors, with the aim of jointly developing forward-looking, innovative battery recycling technologies and building an international circular ecosystem. The collaboration will initially be deployed in China and gradually expand globally. Both parties will maintain close coordination, with plans to bring the first production plant online as early as 2026.
At the signing ceremony, Dr. Rainer Feurer noted that Huayou’s commitment to excellence in process development, management, and innovation is highly impressive. He expressed confidence that, driven by a shared vision, the partnership will deliver technological breakthroughs in end-of-life battery recycling and explore innovative recycling solutions. Dr. Axel Schweitzer remarked that BMW had taken a forward-looking approach by entering the recycling sector a decade ago and establishing Encory as a joint venture deeply integrated into the automotive supply chain. This cooperation, he added, will lay a solid foundation for long-term collaboration. Alexander Maak, CEO of Encory GmbH, described the signing as another significant milestone in strengthening global partnerships in the circular economy.
Chen Xuehua stated that recycling is a critical component in advancing the sustainable development of the new energy industry, economy and society. With its strong technological foundation and systematic capabilities in battery materials recycling, Huayou will leverage this partnership to promote industrial upgrading and explore broader and deeper areas of cooperation with Encory.
Bao Wei, Executive Vice President of Huayou Recycling, added that over the past two years, the two parties have jointly developed new battery recycling technologies based on shared goals and values, building a relationship of mutual trust. This agreement, he noted, will further deepen collaboration and elevate the partnership to a new level.
In recent years, Huayou Recycling has continuously expanded its collaboration with BMW Group and Encory in the field of circular economy for new energy. In 2020, Huayou Recycling and BMW launched a pilot project on second-life applications for end-of-life batteries, exploring reuse pathways in industrial scenarios. In 2022, the two parties achieved closed-loop application of battery materials. In 2024, Huayou Recycling and Encory further advanced cooperation on new battery recycling technologies. The signing of this joint venture letter of intent marks a new step toward building a higher-level, safe, efficient, and environmentally friendly battery materials recycling system, enabling recycled materials to be reintegrated into EV battery manufacturing and creating a future-oriented closed-loop solution for end-of-life batteries.
The event was also attended by senior representatives including Zhao Mingxi, CEO of ALBA Group Asia; Moritz Poremba, Head of Technology Development-Battery Cell Recycling at BMW Group; Zhang Wei, Operation Director of Europe & North America Division at Huayou Recycling; and Peng Zuling, Technology Director of Huayou Recycling among others.
