LG Energy, French firm DBG set up battery recycling JV
LG Energy Solution Ltd., South Korea's leading battery maker, said Tuesday it has partnered with French metal scrap recycler Derichebourg to establish a battery recycling joint venture in France.
Under the 50:50 JV, the two companies will build a battery recycling plant in Val-d'Oise, just north of Paris, capable of processing more than 20,000 tons of used batteries and scrap annually, with operations slated to begin in 2027, LGES said in a press release.
It is the first battery recycling JV formed between a South Korean and a European company in Europe.
"This partnership (with DBG) will serve as a stepping stone for the company to expand into the European battery recycling market," an LGES official said.
Used batteries and scrap will be processed into black mass, which can be refined into core battery materials, such as lithium, cobalt and nickel, to be reused in the battery manufacturing process at LGES's global production facilities, the company said.
The supply of used battery resources are expected to grow rapidly in France, as the country accounted for 15 percent of total electric vehicle sales in Europe last year, according to the European Automobile Manufacturers' Association. (Yonhap)
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