Major Korean conglomerates are working to form an alliance for recycling waste batteries, as the electric vehicle sector is expected to grow exponentially in the coming years, company officials said on Tuesday. The alliance includes Samsung SDI, Hyundai Motor, SK On and LG Energy Solution (LGES), as well as seven small and medium-sized battery and waste-related companies, such as Woojin Industrial Systems, Wonkwang Electric Power and Sungil Hitech, The Korea Times reported Wednesday.

The group plans to establish the country’s first all-in-one battery reuse, refurbishment and recycling business at the EV/ESS Battery Recycling Industrialization Center in Naju, South Jeolla Province. It wishes to develop equipment linked to the safe dismantling and reuse of batteries. Electric vehicle and battery makers have collaborated on the reuse of waste batteries before, but this is the “first time that the four major conglomerates have worked in sync,” he said.

Read it full report: The Korea Times.

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