BEIJING (Reuters) – Chinese battery giant CATL plans to build a new project to recover waste batteries and make lithium materials, with investment of up to 23.8 billion yuan ($3.5 billion), the company said on Sunday.
Guangdong Bangpu Recycling Technology Co Ltd – a unit of CATL – will invest and build the facilities in Foshan city in Guangdong province, CATL said in a statement.
The project will have a capacity of recovering 500,000 tonnes of waste battery materials and make lithium iron materials and other materials, the company said.
($1 = 6.7825 Chinese yuan renminbi)
(Reporting by Kevin Yao; Editing by Alison Williams)
