Li-Cycle Holdings and VinES Energy Solutions, a member of Vingroup based in Vietnam, have announced a long-term recycling partnership that will begin in 2024. Li-Cycle, a company that specializes in sustainable lithium-ion battery recycling, will become VinES’ strategic and preferred recycling partner for battery materials sourced in Vietnam.
As part of the agreement, Li-Cycle and VinES will also explore the construction of a dedicated Spoke near VinES’ manufacturing site in Vietnam to meet growing local demand for lithium-ion battery recycling solutions. An investment decision regarding the potential Spoke facility is expected to be made in 2025. In the meantime, Li-Cycle will facilitate the processing of VinES’ material utilizing Li-Cycle’s North American Spoke network.
See also: Li-Cycle, VinES to collaborate on recycle EV batteries
VinES is a company that specializes in the research, development, and manufacturing of advanced batteries for mobility and energy storage applications. The company recently commissioned a lithium-ion battery cell manufacturing facility in Hai Phong, Vietnam, and plans to expand its production capacity in the country.
VinFast, the first global electric vehicle (EV) manufacturer in Vietnam and Southeast Asia and a member of Vingroup, will also benefit from the partnership. Li-Cycle and VinES will explore global recycling solutions for VinFast, which has expanded its business to the North American and European markets with the aim of becoming one of the leading global EV manufacturers.
Li-Cycle recently opened an office in Singapore to support its connectivity to the Asia market and its efforts to continue building and expanding its commercial relationships with Asia-based manufacturers. The partnership with VinES is consistent with Li-Cycle’s strategy for growing recycling capacity in conjunction with customer demand.
See also: US DOE Commits $375M to Li-Cycle for Battery Recycling Facility
The partnership between Li-Cycle and VinES is an important step towards achieving sustainable lithium-ion battery recycling in Vietnam and Southeast Asia. As demand for electric vehicles and energy storage systems continues to grow, responsible and efficient battery recycling will become increasingly important to ensure a secure and sustainable supply chain.
