Li-Cycle Holdings, the leading lithium-ion battery recycler in North America, and Vines Energy Solutions, a Vingroup company that specializes in the research, development and manufacturing of advanced batteries for mobility and energy storage applications,have launched a global recycling partnership. Vingroup is the largest private conglomerate in Vietnam.
Under the new partnership, the companies are exploring global recycling solutions for VinES and VinFast, a global electric vehicle manufacturer that is also part of Vingroup. The new partnership is expected to support VinES and VinFast in their creation of a closed-loop battery supply chain to enhance their environmental goals and contribute to the global electrified revolution with green mobility solutions.
It will also establish mutually beneficial global connections with all parties and strengthen Li-Cycle’s relationships with leading battery and electric vehicle (EV) manufacturers.
In addition to a significant manufacturing complex in Vietnam, VinFast has announced plans to build a large EV manufacturing facility in North Carolina in March 2022. VinFast was granted an incentive package of $1.2 billion from the State of North Carolina and expects to invest $2 billion to build the project’s first phase, which is designed to have capacity of producing 150,000 vehicles per year.
VinES expects to continue to expand its current battery manufacturing capabilities in Vietnam and is exploring expansion into international markets.
Li-Cycle’s patented and sustainable lithium-ion battery recycling technologies, including its Spoke & Hub Technologies, are a fit in both scale and scope for VinES and VinFast’s current and planned manufacturing capabilities.