Significant progress in the 2021 lithium battery recycling project

Foreign media reported that BYD has established a new cooperative relationship with Itochu Corporation (Itochu). The latter will purchase second-hand power batteries recovered by BYD and convert them into large storage batteries. It will be sold to Europe, America, Africa and other regions in 2021. It is reported that ITOCHU Corporation has developed a system that can pack approximately 160 interconnected BYD batteries into a dedicated 20-foot container. One unit (provides approximately 1,000 kilowatt-hours of capacity, enough to provide 100 households with electricity for one day. The company’s goal is to keep the price of the electricity storage system below 150,000 yen per kilowatt-hour. ITOCHU believes that its system’s The cost will be at least 20%-30.5% lower than the newly built industrial sector.

Like fuel vehicles, new energy vehicles also have their own service life. Among them, the treatment of old power batteries is the most concerned. Generally speaking, the life of the vehicle power battery is generally 5-8 years. Due to various factors such as safety, it is usually stipulated that the vehicle battery must be replaced when the capacity decays to about 80% of the new battery capacity. However, these eliminated old batteries still have application value in some areas where performance requirements are not so high.

In fact, it is not just Japan, Europe, America and other countries are also eyeing the old battery recycling business. The sales of pure electric vehicles in Europe are also soaring, and second-hand power batteries will also appear on the market in the future.

Previously, Renault of France cooperated with Mitsui & Co. of Japan to set up a company operating battery recycling business. It can be seen that the global sales competition for storage batteries has become very fierce.

In the future, with the popularization of electric vehicles, the recycling of used power batteries will become more and more important. BYD itself has also used e6 recycled batteries to build Zhejiang's largest cascaded energy-saving power station. The sale of second-hand batteries to foreign companies this time also proves that BYD’s batteries are of excellent quality and have great potential for recycling.

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