13 Jul 2023
According to the partnership, LOHUM will recycle end-of-life batteries of the Altigreen vehicles via their NEETM technology, recovering 95% of high-purity raw materials from batteries to manufacture new batteries.
Altigreen, an electric commercial vehicle manufacturer and LOHUM company that creates sustainable energy transmission materials has partnered and aimed at addressing the critical challenge of creating sustainable battery disposal in the EV industry.
This partnership states that LOHUM will recycle the end-of-life batteries which are used in Altigreen electric vehicles via NEETM technology. It recovers 95% of high-purity raw materials from the used batteries to manufacture new batteries. Under this partnership, LOHUM will recycle 1GWh of used batteries of Altigreen EV Cargo vehicles for the next three years. As a result, it will contribute to a significant reduction in battery waste and good use of resources.
The Founder and CEO of LOHUM, Rajat Verma, said, "Through our battery recycling expertise, we aim to support Altigreen in their commitment to circular economy practices and contribute to the overall growth of the EV industry."
The increasing demand for the EV market has surged the growth of batteries, increasing EV battery waste. The brand recognized the urgent need for effective battery recycling solutions, for which Altigreen and LOHUM joined hands to create a framework for achieving the battery disposal and recycling target of Altigreen. This partnership also converges on the shared mission of LOHUM and Altigreen shared mission to stride towards a low-carbon future and actively contribute to a closed-loop EV industry.
Dr. Amitabh Saran, Founder and CEO Of Altigreen, said, "This partnership will enable us to responsibly manage the end-of-life batteries from our electric vehicles, reducing waste and minimising the environmental impact of our operations."
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