Li-Cycle Holdings Corp., a lithium-ion battery recycler in North America, is considering the construction of a dedicated Spoke recycling plant near its partner’s lithium-ion battery manufacturing site in the central province of Ha Tinh.
|Li-Cycle will become VinES’ strategic and preferred recycling partner. Photo: Vingroup|
The announcement was part of the latest agreement, which VinES Energy Solutions and Li-Cycle Holdings Corp. have signed for a long-term recycling relationship.
According to the agreement, from 2024, Li-Cycle will become VinES’ strategic and preferred recycling partner for VinES’ Vietnamese-sourced battery materials.
The possible construction of the Spoke plant is consistent with Li-Cycle’s strategy for growing recycling capacity in conjunction with customer demand, driven by strong economic growth and an increasing manufacturing presence in Vietnam.
The announcement noted an investment decision regarding the dedicated Spoke facility is expected to be made in 2025. In the meantime, Li-Cycle will facilitate the processing of VinES’ material utilizing Li-Cycle’s North American Spoke network.
CEO of VinES Pham Thuy Linh said: “By recycling battery production scrap and used batteries into the global mobility and energy storage industries, we can achieve a sustainable supply chain while reducing environmental impacts. We believe the strategic collaboration will strongly accelerate both companies’ missions of creating a sustainable future for all.”
Tim Johnston, Co-founder and Executive Chair of Li-Cycle said: “We are pleased to advance our collaboration with VinES and become its strategic and long-term recycling partner for all batteries and battery materials generated by VinES in Vietnam.”
To build on a partnership first announced last October, VinES and Li-Cycle will continue exploring global recycling solutions for VinFast, the first global electric vehicle (EV) manufacturer in Vietnam and Southeast Asia.
VinES and VinFast are part of Vingroup, the largest private conglomerate in Vietnam. VinFast has expanded its business to the North American and European markets with the aim of becoming one of the leading global EV manufacturers.
VinES specializes in researching, developing, and manufacturing advanced batteries for mobility and energy storage applications. The company has recently commissioned a lithium-ion battery cell manufacturing facility in Haiphong City and expects to expand its production capacity across the country.