On January 11, 2023, Huayou Cobalt Recycling Industry Group (hereinafter referred to as "Huayou Recycling"), together with Volkswagen Group (China), released the Demonstration Project of "30KW 78KWh, Full Time Domain Active Equalization Cascade Mobile Energy Storage System" created by retired power batteries at Huayou Cobalt Quzhou Base. This project is another important cooperation project between Huayou Cobalt and Volkswagen Group in the field of battery industry value chain after the announcement of the joint layout of power battery raw material supply chain in March 2022.

The "30KW 78KWh Full Time Domain Active Equalization Cascade Mobile Energy Storage System" released this time is based on the retired ternary power battery of Volkswagen, and employs Huayou's fast sorting technology of retired power battery, efficient and safe BMS management technology and time domain equalization technology. While maintaining the original battery structure, the digital control system has been customized to ensure the safe operation of the energy storage equipment. This system has the functions of power supplement, demand capacity increase, peak shaving and valley filling, emergency power consumption, etc., and can achieve optimal power operation through intelligent matching. The energy storage system will first be put into use in Huayou Cobalt Industrial Park and will gradually be expanded to the Production Base of Volkswagen Group in China in the future. This project is also another exploratory development of Huayou Recycling and Volkswagen Group (China) for the retired power battery market. The exchange between the two sides began in 2018. After more than two years of exchange, investigation, discussion and exploration, their cooperation relationship was officially established in September 2020 in the field of power battery recycling in terms of cutting-edge technology research, targeted skills training, and cooperative innovation model construction. Since then, the two sides have carried out project cooperation around the "comprehensive utilization of retired power batteries". After another two-year continuous seminar, and through the test of retired batteries in the Volkswagen system and the successful practice of the design, manufacture and trial operation of the pilot products of the two sides, the cooperation relationship between the two sides has been further deepened and strengthened.

Guided by the "dual carbon" goal, the green transformation of energy and transportation has become the only way for the global response to climate change and the realization of green and sustainable development. With the large-scale development trend of the new energy vehicle market, the number of retired batteries will also keep increasing year by year. How to responsibly deal with retired power batteries is an important issue that needs to be faced in the development of the entire industry.

Always adhering to the business philosophy of taking customers as the center and creating value for customers, Huayou has actively and continuously deepened its exploration with Volkswagen Group (China), created new engines for development, gathered new power for development, and established a sustainable closed-loop value chain covering the whole process from raw material acquisition stage to recycling stage around the whole life cycle of batteries.

In the future, Huayou Recycling is willing to work with its partners to build a consensus on the development of the low-carbon era, deepen mutual trust and win-win cooperation, jointly develop the green and sustainable business, promote the value cooperation of the global industrial chain with the ESG strategy, and make new and greater contributions to the construction of a global green community of shared future and the realization of global carbon peak and carbon neutrality!