An electric car’s batteries serve as a backup power source. The necessary electricity for vehicle propulsion is provided by the batteries in electric vehicles. It makes use of chemical energy that is kept in battery packs that may be recharged.
After a particular amount of time, these batteries reach a point known as the end of life, at which point fresh batteries are used in their place.
The use of finite metal elements like cobalt, aluminium, and nickel is decreased by recycling the vital and recyclable components found in batteries.
The market is anticipated to increase as a result of factors such as the rising demand for zero-emission cars, the tightening supply of some battery pack materials, and the expanding use of recycled items.
The South Korea EV Battery Recycling Market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2026, registering a CAGR of XX% from 2022 to 2027.
In a South Korean industrial complex where POSCO Chemical Co. intends to develop a battery materials factory, GS Engineering & Construction Co. (GS E&C) has begun construction of its first lithium-ion battery recycling facility.
The GS Group’s construction division officially started work on the new factory in the port city of Pohang in southeast South Korea, marking the company’s entry into the battery recycling industry.
The manufacturing plant will separate the so-called “black powder”—a mixture of spent batteries that includes the essential elements for making batteries, including lithium, nickel, manganese, and cobalt—from the batteries themselves.
The facility, which has an annual processing capacity of 20,000 tonnes of black powder, will be run by Enerma Corp., an unlisted nonferrous metal refining arm of GS E&C.
Young Poong Corp. of South Korea will construct a smelting facility for recovering EV batteries. According to the business, it has recovered more than 95% of metals from used batteries, including nickel, cobalt, and copper, using dry melting technology (direct smelting), and more than 90% of lithium utilising dust collecting equipment.
The capacity will be increased to 25,000 tpa. The wet leaching method is now used to recover metals from used electric vehicle batteries (hydrometallurgy). Cells from secondary batteries are separated using the wet leaching method.
However, Young Poong Corp.’s dry melting process separates them into modules and melts them down. So, for recycling batteries for large electric vehicles weighing kg, the dry melting technique is suitable.
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