Shanghai (Gasgoo)- On May 10, Chinese new energy vehicle (NEV) startup WM Motor and China Chengtong Ecological Co., Ltd. (CCTE) signed a framework agreement to establish a strategic partnership, according to a post on CCTE’s WeChat account. bottom.
As part of the cooperation revealed in the agreement, CCTE will recycle and reuse approximately 90,000 tons of batteries from WM Motor’s existing 150,000 new energy vehicles.
Photo credit: CCTE
Liang Mingwu, chairman of CCTE, said that CCTE will take “technical innovation” as the core driving force of its development and focus on developing lithium battery recycling business and ecological environmental protection business.
By partnering with WM Motor, the two companies will inject vitality into industry innovation through launching innovative business models and integrating diverse application scenarios, he added. The two companies will leverage their respective financial capital and battery management technology to jointly promote cooperation in projects such as battery banks.
CCTE is a subsidiary of state-owned China Chengtong Holdings Co., Ltd. According to China’s enterprise information inquiry platform Tianyancha, CCTE is allowed to operate businesses such as recycling and marketing of renewable resources, battery manufacturing, battery marketing and energy storage. Technical services, prevention of water and air pollution, management of water resources.
https://autonews.gasgoo.com/new_energy/70022799.html China Chengtong Ecology to recycle WM Motor’s NEV power batteries