Hyundai Glovis, the logistics unit of South Korea’s Hyundai Motor Group, and EcoPro Co., an electric vehicle battery materials producer in South Korea, have announced a partnership to advance their technology and establish a global network for electric vehicle battery recycling.
The memorandum of understanding for business cooperation, signed late last month, aims to collaborate on recycling process automation and develop a supply chain management system for used batteries.
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Hyundai Glovis, known for handling vehicles from Hyundai Motor Co. and Kia Corp. for overseas shipments, also serves global carmakers like Volkswagen AG. With 52 logistics centers in Korea and 96 distribution bases worldwide, the company transports around 3.44 million vehicles annually using its fleet of 90 vehicle carriers.
The partnership with EcoPro will enable Hyundai Glovis to utilize its global network for collecting used EV batteries, acquiring waste battery processing technology, and establishing a used battery supply chain.
EcoPro, through its affiliate EcoPro CnG Co., is actively involved in the battery recycling business. This collaboration with Hyundai Glovis is expected to enhance EcoPro’s competitiveness in used battery supplies and raw material procurement.
Hyundai Glovis recently secured a contract worth 40 billion won ($28.9 million) to supply logistics automation systems to Korea Superfreeze Inc. and EcoPro CnG. The company’s CEO, Lee Kyoo-bok, expressed confidence that the partnership with EcoPro will position them as leaders in Korea’s used EV battery recycling business by optimizing operations and establishing a smart recycling process.
EcoPro’s CEO, Song Ho-jin, emphasized that the collaboration with Hyundai Glovis will strengthen the company’s competitiveness in used battery supplies and raw material procurement.