VinGroup & Li-Cycle launch recycling partnership
The Canadian recycling company Li-Cycle and Vines Energy Solutions (VinES), a battery company of Vingroup, have agreed on a global recycling partnership. Under the agreement, both companies will develop recycling solutions for VinES and VinFast, the electric car manufacturer that is also part of Vingroup.
VinES “specialises in the research, development and manufacture of advanced batteries for mobility and energy storage applications”, according to the statement. Li-Cycle can thus not only recycle old batteries and production waste, but also provide the reprocessed raw materials for a closed battery supply chain. Such a closed supply chain is being pursued, according to the release, but no time frame for this is mentioned.
VinFast is reportedly building its first vehicle plant in the US in the state of North Carolina. Li-Cycle currently has four operating recycling facilities in North America, but none of them are in North Carolina. The shortest distance is likely to be between the VinFast plant and the Li-Cycle facility in Tuscaloosa, Alabama. VinES has a plant in Vietnam and is currently looking at expanding into international markets.
“We always aim to bring sustainable solutions and minimize the impacts of our business and operations on the environment for a greener future,” says Pham Thuy Linh, CEO of VinES. “The partnership with Li-Cycle is one important part of our ESG strategy to achieve sustainable and closed-loop battery production.”
Ajay Kochhar, co-founder and CEO of Li-Cycle, adds to the VinES CEO’s statement, “We believe this partnership will be a significant step in our goal to be the leading and preferred global lithium-ion battery recycling partner and a launching pad to foster and deepen our commercial relationships with VinES and VinFast. We all share a vision to advance a sustainable, efficient and closed-loop battery supply chain.”