On August 8, Huayou Cobalt, a Chinese company specializing in the research and development of new energy materials, announced its collaboration with South Korean automotive battery company LG Energy Solution. The partnership involves the joint establishment of two recycling plants in Chinese cities Nanjing and Quzhou, one for pre-processing and another for post-processing of metallurgy. Once operational by the end of 2024, the plants will recycle battery waste generated by LG’s Nanjing facility and discarded batteries collected by Huayou. They will refine new energy materials including nickel, cobalt, and lithium, and then supply them to LG’s Nanjing plant. South Korea’s LG Energy Solution ranks as the world’s third-largest power battery company with a 14.5% market share globally during the first half of this year, according to the latest data from South Korean consultancy SNE. [Jiemian, in Chinese]