VinES Energy Solutions (VinES) and Li-Cycle Holdings Corp. have announced a global recycling partnership.
VinES Energy Solutions (VinES) is a Vingroup company that specialises in the research, development and manufacturing of advanced batteries for mobility and energy storage applications, and Li-Cycle Holdings Corp. is an industry leader in lithium-ion battery resource recovery and the leading lithium-ion battery recycler in North America.
Under the new partnership, the companies are exploring global recycling solutions for VinES and VinFast, a global electric vehicle manufacturer also part of Vingroup.
The cooperation is expected to support VinES and VinFast in creating a closed-loop battery supply chain to enhance their environmental goals and contribute to the global electrified revolution with green mobility solutions.
Pham Thuy Linh, CEO of VinES, said that the firm aims to bring sustainable solutions and minimise the impacts of its business and operations on the environment for a greener future.
Meanwhile, Ajay Kochhar, co-founder and CEO of Li-Cycle, said that he believes this partnership will be a significant step in his company’s goal to be the leading and preferred global lithium-ion battery recycling partner and a launching pad to foster and deepen its commercial relationships with VinES and VinFast.
“We all share a vision to advance a sustainable, efficient and closed-loop battery supply chain,” said Kochhar.
In addition to a significant manufacturing complex in Viet Nam, VinFast has announced plans to build a large EV manufacturing facility in North Carolina in March 2022.
VinFast was granted an incentive package of US$1.2 billion from the State of North Carolina and is expected to invest $2 billion to build the project’s first phase, which is designed to have a capacity of producing 150,000 vehicles per year. In addition, VinES expects to continue expanding its battery manufacturing capabilities in Viet Nam and is exploring expansion into international markets.
Li-Cycle’s patented and sustainable lithium-ion battery recycling technologies, including its Spoke & Hub Technologies, are an excellent fit in both scale and scope for VinES and VinFast’s current and planned manufacturing capabilities. — VNS