Lithium Australia and BYD have entered into an exclusive recycling agreement for end-of-life batteries from BYD’s New Energy Vehicles in Australia. The agreement, initially for three years with a possible two-year extension, designates Envirostream Australia, a wholly owned subsidiary of Lithium Australia, as the recycler for BYD’s LFP chemistry blade batteries.
While specific recycling volume projections were not disclosed, the companies noted that BYD vehicles represent approximately 14% of new energy vehicle sales in Australia in 2023. Envirostream Australia anticipates a significant increase in collection volumes of large format lithium-ion batteries as a result of BYD Auto’s market presence.
Simon Linge, CEO and Managing Director of Lithium Australia, said he was excited about the agreement and its potential to increase the company’s collection of large format lithium-ion batteries. Liu Xueliang, General Manager of BYD’s Asia Pacific Automotive Sales Division, emphasized that this partnership is in line with BYD’s commitment to reducing carbon emissions and promoting technological innovation in the automotive industry.
This agreement follows similar agreements that Lithium Australia has entered into with other automotive manufacturers, including a recent agreement with Volvo Buses and an updated agreement with LG Energy Solution. These partnerships reflect a growing trend in the electric vehicle industry towards sustainable end-of-life battery management.
Source: Lithium Australia Announcements
