MIIT to Draft Regulations on Retired Power Batteries, Aiming for 1 Million Tonnes Recycling by 2030
China's Ministry of Industry and Information Technology (MIIT) said on August 26 that during the 15th Five-Year Plan period it will draft administrative regulations on retired power batteries from new energy vehicles and launch joint departmental enforcement to standardize recycling. The ministry will also implement a digital ID system for power batteries to ensure traceability. By 2030, the comprehensive utilization of retired power batteries is expected to reach over one million tonnes.
At a press conference on August 26, Xin Guobin, Vice Minister of Industry and Information Technology, said that in response to the retirement of power batteries from new energy vehicles, during the 15th Five-Year Plan period the ministry will research and draft relevant administrative regulations, launch joint departmental enforcement campaigns, and further standardize the recycling order.
Xin introduced that a digital ID management system for power batteries will be implemented to ensure traceability and trackable whereabouts. By 2030, the comprehensive utilization of retired power batteries is expected to reach over one million tonnes.
Why this event matters
The event has a measured impact on 3 industrys. The strongest current signal is positive for Batteries & Energy Storage, with intensity 60/100 and 80% confidence over a medium term horizon.
Batteries & Energy Storage
- Direction
- positive
- Intensity
- 60
- Confidence
- 80%
- Horizon
- Medium term
Resource Recycling
- Direction
- positive
- Intensity
- 55
- Confidence
- 70%
- Horizon
- Medium term
New Energy Vehicles
- Direction
- positive
- Intensity
- 50
- Confidence
- 75%
- Horizon
- Medium term
Impact figures are analytical estimates that combine direction, intensity, confidence and event importance. They are not investment advice.