Electric Vehicle Battery Recycling Service

Electrical Used Battery Business Unit

Electric Vehicle Battery Recycling Service Business

Since 2013, electric vehicles have been gradually adopted in the domestic market, and the numbers have consistently increased, surpassing 100,000 units annually since 2020. Electric vehicle batteries need to be replaced when their remaining lifespan reaches 70-80%, which can range from 5 years to 20 years. In the future, it is projected that in South Korea alone, there will be 30,000 retired electric vehicle batteries by 2025, 100,000 by 2030, and globally, 7.8 million tons by 2040, with an estimated market size of 80 trillion won.

The value chain of retired electric vehicle batteries involves collection, sorting, processing, distribution, and sales. Among these stages, dismantling centers play a crucial role in 1) collection, 2) sorting, and 3) processing. They are the primary access point for securing retired batteries, and there is a high probability that the government will designate them as central collection centers, as they are expected to expand their market share and ensure operational transparency.

Through its battery recycling platform, Bybyecar aims to collaborate with affiliated dismantling centers to take on the role of collecting the increasing number of retired batteries over the next three years. These batteries will be distributed to recycling facilities, maximizing the revenue model of dismantling centers and contributing to the promotion of multiple revenue streams.