Chiho to construct recycling facility in China

Hong Kong-based Chiho Environmental Group plans to construct a recycling facility in Taizhou, China. The company plans to invest 243 million yuan ($38 million), mainly financed through internal resources, to build a 100-acre recycling yard in Taizhou to recycle scrap, end-of-life vehicles (ELVs) and electric vehicle (EV) batteries.

According to a news release from Chiho Environmental Group, the facility will process around 50,000 ELVs and 10,000 tons of EV batteries at the facility.

Chiho Environmental Group reports that automobile ownership has been growing in China in recent years and more vehicles need to be recycled properly to enhance circular economy models. Yet the current percentage of cars recycled in China remains lower than what is recycled in many other developed countries. As a result, Chiho Environmental Group says it sees “huge immediate and long-term opportunity” for the group and this new facility.

Chiho Environmental Group says the new facility will be jointly operated by Taizhou Chiho-Tiande Metals Co. Ltd. and Scholz China GmbH, both being indirectly wholly owned subsidiaries of Chiho Group. Scholz is a major subsidiary of the Chiho Group, with experience in metals recycling and recycling of ELVs. Chiho Tiande has been operating in the Chinese mixed metal recycling industry for more than two decades with a large supplier network and local market knowledge.