GEM expands battery recycling footprint with new partnerships

GEM's holding subsidiary, Wuhan Dongli Zaisheng Technology Co., Ltd. (Dongli Zaisheng), signed a strategic cooperation framework agreement with Guangdong Lutong New Energy Electric Vehicle Technology Co., Ltd. (Lutong Technology) on September 17, 2025. This agreement aims to establish a comprehensive strategic partnership in new energy field vehicles and power battery recycling, creating a closed-loop value chain from vehicle recovery to battery material regeneration. This collaboration will enhance market competitiveness and promote green, low-carbon industrial development.

Additionally, GEM signed a memorandum of understanding (MOU) with US-based battery recycling company ASCEND ELEMENTS, INC. (AE) on September 17, 2025. This MOU focuses on exploring cooperation to establish a leading power battery recycling and material production system in Europe, aiming to advance the global battery passport initiative and green development in the new energy sector. This move follows GEM's existing battery recycling footprint in China, South Korea, and Indonesia, extending its reach into the European market.