Lithium Australia’s subsidiary, Envirostream, has inked a significant three-year agreement with Hyundai Glovis, a prominent logistics entity under the Hyundai Motor Group, to provide battery recycling services in Australia. This collaboration is poised to bolster the collection volumes of large-format lithium-ion batteries, aligning with the rising demand for battery recycling services and underscoring the expanding market opportunity in this sector.
Lithium Australia’s growth strategy is evident in its systematic approach to securing recycling agreements with premier electric vehicle (EV) and energy storage system (ESS) manufacturers, aiming to ensure a consistent supply of lithium-ion batteries for recycling. The agreement with Hyundai Glovis marks a significant step, following a previous deal with LG Energy Solution, demonstrating Lithium Australia’s commitment to enhancing its position in the battery recycling industry.
Lithium Australia’s CEO and managing director, Simon Linge, expressed his enthusiasm for the partnership, stating, ‘Envirostream’s collaboration with Hyundai Glovis, a notable logistics entity under the Hyundai Motor Group, is set to bolster the collection volumes of large-format lithium-ion batteries. This partnership aligns with the rising demand for battery recycling services, spotlighting the expanding market opportunity in this sector.’
As the demand for electric vehicles and energy storage systems continues to surge, the need for efficient and sustainable battery recycling solutions becomes increasingly crucial. Lithium Australia’s strategic partnerships position the company as a key player in addressing this growing market, contributing to a more circular economy and promoting responsible resource management.
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