The recycling of power battery scrap has been frequently mentioned along with the thriving and prosperity of new energy vehicle (NEV) market in China.
China's Ministry of Industry and Information Technology (MIIT) recently convened a meeting in Beijing concerning the administration of power battery recycling market with the purposing of improving the recycling system and standardizing the industry.
At present, the situation stands with the pouring in of a slew of all kinds of market players when lithium carbonate prices surged since the second half of last year. However, as the recycling market grows, the issues hidden behind have gradually surfaced.
For example, the emergence of non-compliant workshops has caused market chaos by inflating battery scrap prices, which squeezed the space of "whitelist" recycling companies recognized by MIIT among the efforts to regulate the market. In addition, non-compliant workshops are usually environmentally unfriendly, which is another critical issue of concern.
Looking ahead, the power battery recycling market will be further improved through more sophisticated rules and regulations to lift the market threshold, and non-compliant as well as non-competitive workshops will be eliminated as the market evolves.
Writted by Aggie Hu, huchenying@mysteel.com