China approves plan to improve new energy vehicle battery recycling system

The State Council recently approved an action plan to improve the new energy vehicle battery recycling system, aiming to comprehensively improve the recycling capacity.

The Xinhua News Agency reported that China’s new energy vehicle industry has developed rapidly in recent years, with the number reaching 31.4 million by the end of 2024.

It said that some reports indicate that by 2030, the energy battery recycling market will exceed 100 billion yuan (about 13.95 billion U.S. dollars).

The Ministry of Industry and Information Technology of China stressed that promoting the recycling of new energy vehicle batteries is of great significance to supporting the high-quality development of the industry, ensuring the safety of national resources, and reducing environmental pollution and potential safety risks.