Altigreen, a commercial cargo electric vehicles manufacturer, and LOHUM, a producer of sustainable energy transition materials, have entered into a strategic partnership aimed at addressing the critical challenge of sustainable battery disposal in the electric vehicle industry.
Under this partnership, LOHUM will recycle end-of-life batteries from Altigreen electric vehicles via its NEETM technology, recovering 95% of high-purity battery raw materials that can be used to manufacture new batteries. The partnership will enable LOHUM to recycle 1 GWh of Altigreen EV cargo vehicle batteries over the next three years, contributing to a significant reduction in battery waste and the efficient utilisation of resources.
With the rapid growth of the EV market, the demand for batteries has surged, resulting in a significant increase in battery waste. Recognising the urgent need for effective battery recycling solutions, Altigreen and LOHUM have joined forces to establish an innovative framework for achieving Alitgreen's responsible battery disposal and recycling targets. The partnership converges on LOHUM and Altigreen's shared mission to build a low carbon future and actively contribute to a closed-loop EV industry.
Dr. Amitabh Saran, Founder and CEO of Altigreen, said, " This partnership will enable us to responsibly manage the end-of-life batteries from our electric vehicles, reducing waste and minimising the environmental impact of our operations."
Rajat Verma, Founder and CEO of LOHUM, commented, "Through our battery recycling expertise, we aim to support Altigreen in their commitment to circular economy practices and contribute to the overall growth of the EV industry."