LG Energy Solution and Toyota Tsusho Corporation have announced the establishment of a joint venture company, Green Metals Battery Innovations, focused on battery recycling. The joint venture will construct a pre-processing facility in Winston-Salem, North Carolina, to extract black mass, a key material for battery recycling. The facility is scheduled to commence operations in 2026, with the objective of achieving a maximum annual processing capacity of 13,500 tons of scrap, equivalent to over 40,000 automotive batteries.

Joint Venture Details

The joint venture is a result of an agreement signed by LG Energy Solution Michigan and Toyota Tsusho America. In the initial stage of the joint venture's operation, LG Energy Solution will supply scrap generated during the production of electric vehicle (EV) batteries to Toyota Motor. The extracted black mass will later undergo a separate post-processing stage to recover raw materials contained within.

Objective and Impact

The joint venture aims to establish a battery-to-battery closed-loop system, where raw materials are recycled as resources for new battery materials, thereby advancing a true circular economy in the battery supply chain. This collaboration aims to drive carbon emissions down through circular economy initiatives. By partnering with a leading battery recycler, LG Energy Solution intends to secure a competitive recycling infrastructure in the region.

Company Statements

Chang Beom Kang, CSO of LG Energy Solution, stated that the joint venture will help secure a stable supply of key battery materials and enhance the competitiveness of their recycling business in North America. Masaharu Katayama, COO of Toyota Tsusho, expressed pride in partnering with LG Energy Solution to advance the battery recycling infrastructure in North America, considering it a significant step toward realizing a circular economy for batteries. The establishment of this joint venture marks a significant development in the companies' efforts to promote sustainability and reduce waste in the battery industry, and it is expected to have a positive impact on the environment.

Are you looking for a Comprehensive Global Battery Market Report?

Blackridge Research & Consulting’s Global Battery Market Report is all you need!

In this report, you will get insights about:

1. Competitive landscape

2. Emerging market trends

3. Market challenges and opportunities

4. Market shares of key players

5. The most influential growth drivers and restraints

Contact us to learn more about the introductory offer and instant savings on your purchases.