Core Viewpoint - The article highlights the rapid growth of the electric vehicle (EV) market in China and the impending boom in the battery recycling market as the first batch of power batteries reaches the "8-year warranty period" [2][3]. Group 1: Market Growth - In 2024, new registrations of electric vehicles in China reached 11.25 million, accounting for 41.83% of new car registrations, an increase of 3.82 million vehicles or 51.49% compared to 2023 [2]. - By the end of 2024, the total number of electric vehicles in China is expected to reach 31.4 million, representing 8.90% of the total vehicle population [3]. Group 2: Battery Recycling Market - The battery recycling market is anticipated to expand significantly due to the arrival of the "8-year warranty period" for power batteries and the implementation of various EV replacement subsidy policies [3]. - Major battery manufacturers, including CATL, EVE Energy, and LG Energy, are actively establishing battery recycling networks to prepare for the upcoming wave of battery retirements [4][8]. Group 3: CATL's Recycling Initiatives - CATL's recycling division, controlled by its subsidiary Bangpu Recycling, has invested up to 23.8 billion yuan in an integrated new materials project in Guangdong, capable of recycling 500,000 tons of used battery materials annually [6]. - As of September 2024, CATL has established over 240 battery recycling points in China and has formed partnerships with over 60 recycling companies globally, covering 26 countries and regions [10]. Group 4: EVE Energy's Global Recycling Network - EVE Energy launched a "Global Lithium Battery Recycling Network" during its 24th anniversary event, aiming to establish 1,000 recycling points worldwide, with 246 already set up [12][13]. - The company’s recycling technology has a nickel-cobalt recovery rate exceeding 98% and a lithium recovery rate of 92% [13]. Group 5: LG Energy's Collaborative Efforts - LG Energy has formed a joint venture with Toyota Tsusho in the U.S. to focus on battery recycling, planning to build a pre-treatment facility with an annual processing capacity of 13,500 tons of waste [15][16]. - The company is also collaborating with Derichebourg in France to establish a battery recycling plant, expected to begin operations in 2027 with a processing capacity of over 20,000 tons annually [18]. Group 6: Industry Trends - The global battery recycling business is expanding due to the upcoming peak in battery retirements and regulatory pressures, such as the EU's new battery law, which mandates producers to take responsibility for the entire lifecycle of batteries [19]. - The influx of battery manufacturers into the recycling sector is expected to intensify competition while promoting the standardization and sustainable development of the recycling industry [20].