Hyundai Glovis, Hyundai Motor Group’s (HMG) logistics unit, has joined with local battery materials producer EcoPro to develop new technology and jointly build a global recycling business for electric vehicle (EV) batteries.
The two companies signed a memorandum of understanding (MoU) agreeing to collaboration involving the establishment of a global supply chain management system for used EV batteries and the development of automated recycling technology.
The company ships most of HMG’s export vehicles and handles other brands, including Volkswagen. Last year it shipped 3.4m vehicles using its fleet of 90 vehicle carriers. The company operates 52 distribution centers in South Korea and 96 overseas.
EcoPro is a battery materials supplier which has been growing its battery recycling business through its EcoPro CnG Company subsidiary.
Hyundai Glovis chief executive officer Lee Kyoo-bok said, “With this latest agreement with EcoPro, we will lead Korea’s used EV battery recycling business by optimizing the recycling operation system.”
