Leading electric vehicle (EV) battery swapping company RACE Energy and sustainable energy transition materials supplier LOHUM have formed a strategic alliance. This partnership aims to address the growing issue of EV battery waste in addition to investigating possible secondary uses for batteries that have outlived their original purpose.
In response to the Extended Producer Responsibility (EPR) rules, which support prudent battery management, this alliance is a proactive move. It is anticipated that these businesses’ combined efforts will enable the efficient recycling or refurbishing of more than 90% of the raw materials from RACE’s ageing battery stock.
In June 2023, RACE Energy opened a battery production facility to demonstrate its dedication to sustainability. Capable of producing up to 30,000 batteries a year, this plant has a 50 MWh manufacturing capacity. The company’s creative approaches have contributed to an amazing 40% increase in battery life.
LOHUM plans to use these RACE batteries for ancillary uses like energy storage or downsizing EVs, all the while advancing the circular economy.
Leadership opinion
Co-founder of RACE Energy Gautham Maheswaran offered his opinion on the partnership, saying, “We can extend the utility of our swappable battery modules by partnering with LOHUM and adapting them for significant secondary uses.”
The senior vice president of business of LOHUM, Chetan Jain, praised RACE Energy for its commitment to increasing the sustainability of EV batteries. Not to be overlooked is LOHUM’s historic accomplishment from September 2023. The business successfully produced Pure Metallic Lithium by introducing its novel multi-stage hydrometallurgical recycling method, NEETMTM. Through this ground-breaking project, LOHUM became the first firm outside of China to achieve this kind of achievement through recycling, opening the door for battery materials to become more electric vehicle friendly in the future.
In conclusion, the RACE Energy and LOHUM partnership represents a significant milestone in the journey towards revolutionizing EV battery recycling. It offers hope for a future where electric vehicles not only provide clean and efficient transportation but also contribute to a more sustainable and circular economy.
