Battery Science & Technology Reached a Strategic Cooperation with Foton Motor

Recently, Battery Science & Technology Co., Ltd. (hereinafter referred to as "Battery Science & Technology"), a subsidiary of Luen Mei Group and Beijing Zhicheng Yunli New Energy Technology Co., Ltd., a holding subsidiary of Foton Motor, reached a strategic cooperation. Both parties will carry out comprehensive cooperation in battery banking services and retired power battery recycling business.

In terms of battery banking, Battery Science & Technology will actively provide comprehensive solutions for battery banking financial services to partners' application scenario customers. In terms of retired battery recycling, both parties will work together to develop battery resources such as waste battery cells and pole pieces for battery disassembly and cascade recycling, jointly build a recycling network of retired power battery, and disassemble and recycle retired batteries strictly in accordance with national environmental protection laws and regulations, relevant standards and technical specifications, and conduct environmentally sound disposal of other unusable residues after battery recycling. Both parties will also carry out joint exploration in ESG, carbon neutrality, carbon footprint, retired power battery traceability system and other related fields.