CATL to invest $5 billion in Chinese recycling plant
Contemporary Amperex Technology Co. Ltd. (CATL) says that it plans to build a battery materials recycling plant in the high-tech zone in Yichang, Hubei Province.
Guangdong Brunp Recycling Technology Co., Ltd. (Brunp), a CATL subsidiary, and Brunp’s subsidiary Ningbo Brunp Contemporary Amperex Co., Ltd. (Brunp Contemporary), have all signed cooperation agreements with the Yichang municipal government, the Yichang high-tech zone management committee, and Hubei Yihua Group Co. Ltd. respectively. According to the agreement, Brunp and Brunp Contemporary will invest up to RMB 32 billion (around USD 4.96 billion) in the high-tech zone in Yichang, Hubei Province. Taking cathode material business for EV batteries as the core, the project aims to create a production base that covers the whole battery life cycle, integrating “phosphate mine – raw material – precursor – cathode material – battery recycling” and other business aspects.