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Hyundai Motor Group's joint venture with LG Energy Solution, PT Hyundai LG Indonesia Green Power, is collaborating with Zhejiang Huayou Recycling Technology to recycle electric vehicle battery materials in Indonesia. HLI Green Power operates a $1.1 billion plant in Karawang, West Java, starting in 2024, to supply battery cells for HMG's EV operations.

The agreement involves sending production waste from HLI Green Power to Huayou's local recycling facilities for processing into black mass, which will be refined to retrieve lithium, cobalt, and nickel. Additionally, the companies will recycle materials from used EV batteries, contributing to the global EV battery supply chain.