With the rapid development of the new energy vehicle industry, the recycling of retired power batteries has become a pressing issue. In a recent government document, China has set out its goals in this regard.

China will strengthen the construction of a traceability management platform for new energy vehicle power batteries and improve the traceability management system for the recycling of new energy vehicle power batteries, according to the document released Wednesday by China's National Development and Reform Commission in conjunction with multiple departments.

China will promote new energy vehicle manufacturers and waste power battery recycling companies to build standardized recycling service outlets, the document said.

The country will promote the standardized gradient utilization of power batteries and improve the technical level of residual energy detection, residual value assessment, reorganization and utilization, and safety management.

The document also proposed that China will strengthen the recycling of used power batteries and the use of complete sets of advanced technology and equipment to promote the application. At the same time to improve the power battery recycling standard system, and foster the comprehensive utilization of waste power battery backbone enterprises, to promote the development of the waste power battery recycling industry.

The total amount of retired power batteries in China reached about 200,000 tons in 2020, and the figure will probably rise to about 780,000 tons by 2025, four times the amount in 2020, as previously reported by CCTV.

As China's electric vehicle industry has grown rapidly in recent years, power battery scrapping has also been climbing rapidly, from 27,800 tons in 2017 to 63,900 tons in 2018, according to data released by the China Automotive Battery Innovation Alliance.

The figure will be about 136,500 tons in 2019 and more than 200,000 tons in 2020, both with an annual growth rate of about double.

China ushered in the new energy vehicle boom after 2013 and became the number one country in new energy vehicle production and sales for six consecutive years starting in 2015 and ending in 2020. According to the upper limit of service life, China has already seen the first wave of power battery decommissioning in 2018.

The International Energy Agency estimates that the global lithium-ion battery recycling market will grow to €20 billion ($23.7 trillion) around 2030, with China becoming the largest market.

China expected to scrap nearly 800,000 tons of power batteries by 2025, quadruple that of 2020