Hyundai Glovis Co., the logistics arm of South Korea’s Hyundai Motor Group, has entered into a strategic partnership with EcoPro Co., the nation’s top producer of electric vehicle battery materials. This collaboration aims to enhance technology and establish a global network for the electric vehicle (EV) battery recycling business.
The companies announced on Monday that they signed a memorandum of understanding (MOU) on business cooperation late last month. Under this initial agreement, Hyundai Glovis and EcoPro will work together on various fronts, including automating the recycling process and developing a comprehensive supply chain management system for used batteries.
Hyundai Glovis, which manages the logistics for vehicles manufactured by Hyundai Motor Co. and Kia Corp., as well as other global carmakers like Volkswagen AG, operates 52 logistics centers in Korea and 96 distribution bases worldwide. Annually, the company transports approximately 3.44 million vehicles using its fleet of 90 vehicle carriers.
Leveraging its extensive global network, Hyundai Glovis aims to dominate the collection of used EV batteries, secure advanced waste battery processing technology, and build a robust supply chain for used batteries. The company is positioned to lead in this sector by optimizing the recycling operation system and establishing a smart recycling process.
EcoPro, through its affiliate EcoPro CnG Co., is already active in the battery recycling business. The partnership with Hyundai Glovis is expected to enhance EcoPro’s competitiveness in securing used battery supplies and raw materials.
In April, Hyundai Glovis secured a contract to supply logistics automation systems valued at 40 billion won ($28.9 million) to Korea Superfreeze Inc. and EcoPro CnG. This latest agreement further solidifies the company’s commitment to advancing Korea’s EV battery recycling industry.
“With this latest agreement with EcoPro, we will lead Korea’s used EV battery recycling business by optimizing the recycling operation system and establishing a smart recycling process,” said Lee Kyoo-bok, CEO of Hyundai Glovis. EcoPro CEO Song Ho-jin added that the strengthened partnership will significantly enhance their competitiveness in the used battery market and raw material procurement.
This collaboration between Hyundai Glovis and EcoPro marks a significant step towards sustainable practices in the electric vehicle industry, reinforcing their leadership in the global push for greener technologies.
