Doosan Enerbility to establish battery recycling subsidiary

Doosan Enerbility will establish a battery recycling subsidiary, a major move for its entry into the growing electric vehicle market.

The Korean company said on Friday its board of directors approved an item on its agenda to set up Doosan Recycle Solution, a unit to reprocess waste batteries to collect lithium, a core material for EV battery cells.

Doosan Enerbility in 2021 developed a technology that extracts lithium from used batteries, which can then be reused to make EV batteries.

The company will build a manufacturing facility that will have 3,000 tons of production capacity. The facility aims to open in the second half of 2025.

“We decided to establish a subsidiary with an independent management system to dominate business opportunities in the rapidly growing battery recycling market,” Doosan Enerbility Vice President Choi Jae-hyuk said.

“We endeavor to accelerate the business growth with fast decision-making and expertise, utilizing our own competitive technology,” Choi added.

BY SARAH CHEA [chea.sarah@joongang.co.kr]