Chiho to expand Chinese scrap ops for vehicle, EV battery recycling

Hong Kong-based scrap processor Chiho Environmental Group plans to expand its footprint among Chinese recycling operations with the opening of a new yard in the east of the country, the company said on Friday November 5.

A recycling park in Taizhou in Zhejiang Province is the result of a joint investment totaling 243 million yuan ($38 million) by Chiho-owned firms Scholz and Chiho Tiande, Chiho said.
On its completion, the firm said, the new yard will be able to process 50,000 end-of-life vehicles (ELVs) and 10,000 batteries from electric vehicles (EVs) each year, but Chiho did not specify when the park would be fully operational.
“Automobile ownership has been growing steadily in China over recent years and more vehicles must be recycled properly to enhance circular economy models. The current percentage of cars that are recycled remains far lower than in many developed countries,” the firm said.

“Demand for ELV recycling and for recycling EV batteries is therefore on the rise - especially since forecasts say that, in 2025, roughly...

Published

Lee Allen

November 08, 2021

18:05 GMT

London