Abstract
With the rapid development of new energy vehicles (NEVs) industry in China, the reusing of retired power batteries is becoming increasingly urgent. In this paper, the critical issues for power batteries reusing in China are systematically studied. First, the strategic value of power batteries reusing, and the main modes of battery reusing are analyzed. Second, the economic benefit models of power batteries echelon utilization and recycling are constructed. Finally, the economic benefits of lithium iron phosphate (LIP) battery and ternary lithium (TL) battery under different reusing modes are analyzed based on the economic benefit models. The results show that when the industrial chain is fully coordinated, LIP battery echelon utilization is profitable based on a reasonable scenario scheme. However, the multi-level echelon utilization is only practical under an ideal scenario, and more attention should be paid to the first level echelon utilization. Besides, the performance matching of different types of batteries has a great impact on the echelon utilization income. Thus, considering the huge potentials of China’s energy storage market, the design of automobile power batteries in the future should give due consideration to the performance requirements of energy storage batteries. Moreover, the TL battery could only be recycled directly, while the LIP has the feasibility of echelon utilization at present. At the same time, it will strengthen the cost advantage of the LIP battery, which deserves special attention.
Highlights
With the continuous support of the government, the number of new energy vehicles (NEVs) has been increasing rapidly in China, which has led to the rapid development of the power battery industry [1,2,3]
NEVs have high requirements for batteries, but the power batteries could be used in micro electric vehicles, communication base stations, energy storage [28], and other fields until the battery capacity retention rate is reduced to 30% [28]
This paper aims to reveal the critical issues for power battery reusing of NEVs in China by the strategic value analysis and building the economic benefit model
Summary
With the continuous support of the government, the number of NEVs (new energy vehicles) has been increasing rapidly in China, which has led to the rapid development of the power battery industry [1,2,3]. Energies 2020, 13, 1932 expected that China will soon usher in the peak period of the retirement of NEV power batteries [6] It will bring serious environmental and security risks if these retired batteries cannot be effectively recycled and managed [7]. For this reason, the Chinese government is stepping up the development of relevant policies on the reusing of power batteries. Its reusing is a matter of legal responsibility and affects the supply status of these metals directly [11,12] It may change the trend of the price of power battery, and affect the development trend of the industry and the income of enterprises significantly. China, including the strategic value, main reusing modes, echelon utilization value, recycling value, and overall value analysis of power battery reusing
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