Tianqi Shares, China Changan, and Changan Automobile cooperate to carry out battery recycling business

Tianqi Shares announced on April 18 that it plans to jointly invest with China Changan and Changan Automobile to establish a joint venture company focusing on battery recycling, cascade utilization and regeneration business. Tianqi Shares holds 49% of the shares, China Changan holds 31% and Changan Automobile holds 20%. The joint venture will be planned and constructed in three phases, including battery crushing and powdering, battery cascade utilization, ternary battery wet regeneration and iron-lithium battery wet regeneration capacity. The first phase is scheduled to be put into production in 2025, and the subsequent two phases will be started in due course according to business conditions.