Promote battery recycling, the power battery recycling market is a blue ocean

A few days ago, according to Xiao Yaqing, Minister of Industry and Information Technology, the development of new energy vehicles is the focus of energy conservation and emission reduction. The roadmap for the implementation of the automobile industry will be formulated around the goal of carbon peak and carbon neutrality, strengthen vehicle integration technology innovation, and promote electrification and connectivity. The parallel development of technology and intelligence, and at the same time, promote the recycling and utilization of new energy vehicle power batteries by formulating supporting laws and regulations, improving the recycling system, and issuing relevant standards. In recent years, the rapid development of my country's new energy vehicle market has driven the continuous expansion of the power battery market. At the same time, as the service life is approaching, the recycling market for used batteries will usher in a period of rapid growth. According to the latest data, from January to November 2020, the production of new energy vehicles was 1.119 million, a year-on-year decrease of 0.1%, and the decline was significantly narrower by 9.1 percentage points from January to October. The sales of 1.109 million vehicles were completed, a year-on-year increase of 3.9%. The growth rate has changed from negative to positive from January to October. Source of data: China Automobile Association and China Commercial Industry Research Institute are affected by factors such as the epidemic. In 2020, the development of the new energy vehicle market will slow down, and the power battery market will also be affected to some extent. As the auto market picks up, related markets will also recover. Data show that from January to November 2020, my country's power battery production has accumulated 68.3GWh, a cumulative decrease of 13.8% year-on-year. In terms of installed capacity, from January to November 2020, my country's power battery installed capacity has accumulated 50.7GWh, a cumulative decrease of 3.5% year-on-year. Data source: China Automotive Power Battery Industry Innovation Alliance and China Commercial Industry Research Institute have compiled and calculated according to the 5-8 year service life of new energy vehicle power batteries. The power batteries that were put into production in 2014 have begun to enter the mass obsolescence period in 2019. The battery recycling market has a bright future. According to forecasts, the amount of power battery recycling is expected to exceed 25GWh in 2020, and nearly 120GWh by 2025. In order to promote the development of the waste battery recycling market and regulate the new energy automobile industry, the state has successively introduced relevant favorable policies, and the power battery recycling market is a blue ocean. According to statistics, the size of the power battery recycling market is expected to exceed 10 billion yuan in 2020, and it will further increase to about 14.3 billion yuan in 2021. By 2025, the scale of my country's waste power battery recycling market may exceed 40 billion yuan.