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...