Hyundai Motor Group Signs MOU To Build Inni EV Battery Circulation Economy

*This content was translated by AI.

Hyundai Motor Group signed a memorandum of understanding (MOU) with the Hwajuri Cycle at its Yangjae office on March 12, 2026. Officials from both companies attended the signing ceremony, including Vice President Chung Ho-geun, head of Hyundai Motor Group's Future Strategy Division, and Huawei CEO.Huayuri Cycle is a subsidiary of Huayu Kovald, the world's No. 1 cobalt producer, in charge of battery reuse and recycling.

Through this agreement, the two companies agreed to establish an electric vehicle battery circulation economy system in Indonesia.The battery circulation economy refers to a system in which scrap, waste generated in the battery manufacturing process, and electric vehicle batteries that have reached their end of life are recovered and recycled as raw materials for producing new batteries. It is divided into a pre-treatment process in which the recovered scrap and battery are crushed and pulverized to become "black mass" and a post-treatment process in which major minerals are extracted from black mass and made into raw materials.

Under the agreement, Hyundai Motor Group will recover battery scrap generated from HLI Green Power, a joint venture of battery cells in Indonesia. Huayuri Cycle is responsible for pretreating the scrap with black mass using its local base in Indonesia.The two companies plan to focus on securing a stable recycling value chain in order to strengthen global environmental regulations and respond to the trend of expanding the use of recycled minerals in battery production.

In the future, it plans to consider expanding the scope of cooperation to the entire circular economy, such as recycling waste batteries that have expired as well as battery scrap.Hyundai Motor Group said the MOU is the starting point for building a circular economy that encompasses the entire battery life cycle and will continue its efforts to prepare a sustainable battery supply chain.

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*This content was translated by AI.