The power battery recycling market is waiting to be opened with a market value of billions of yuan.

On January 16, the Ministry of Industry and Information Technology held a press conference to introduce the "Interim Measures for the Management of Recycling and Comprehensive Utilization of Waste New Energy Vehicle Power Batteries" jointly issued by the Ministry of Industry and Information Technology and five other departments. In recent years, China's new energy vehicle industry has developed rapidly, with production and sales volumes continuously increasing. At the same time, as the capacity of used new energy vehicle power batteries deteriorates and enters the retirement period, the amount of waste power batteries continues to grow, and China is about to enter the stage of large-scale retirement of power batteries. Data previously released by the State Administration for Market Regulation shows that by 2024, the domestic recycling volume of power batteries will exceed 300,000 tons, corresponding to a market size of over 48 billion yuan, and it is expected that by 2030, the domestic market size will exceed one trillion yuan. With the market scale of the power battery recycling industry reaching the trillion-yuan level, technology has become one of the key factors for future competition in this industry, including continuous innovation in production technology, as well as the deep application of digital technology in the full lifecycle information traceability management of power battery recycling.