BYD announced battery recycling plant in Shanghai in April

BYD Co Ltd announced it will build a battery recycling plant in Shanghai in April or the second quarter. The electric vehicle giant headquartered in Shenzhen said the latest move was in an effort to reduce raw material costs and help deal with waste batteries,

Chinese car manufacturer BYD is getting closer to building a recycled battery factory. The Shanghai plant will be built in the second quarter of this year to make costs cheaper, reduce raw material costs, and help handle battery waste.

Tinuku BYD announced battery recycling plant in Shanghai in April

A spokesman said on Wednesday BYD had secretly built the plant and would hold an opening ceremony in April or at least in the second quarter, but the company did not provide details about the plant capacity or the amount of investment involved.

"The date has not been set," said BYD's brand communications manager, Mia Gu, in Beijing.

The increasing cost of electric vehicle battery materials such as lithium and cobalt became part of BYD's reason to build the recycling industry and the company says the most important driving factor is environmental protection.

BYD said the first EV battery waste product will reach this year's market with an estimated 120,000 tonnes to 170,000 tonnes per year by 2020. They are asking the government to provide a new mechanism to outline producer and consumer responsibility, guidance and tech support.