On April 10th, Tianqi shares announced that the company signed a memorandum with Stellantis Group, Stellantis Group intends to acquire the company's shareholding company Tianqi Orient (Guangzhou) Automobile through capital increase through its subsidiary Automobiles Peugeot 32% stake in Parts Remanufacturing Co., Ltd.
In this way, the two parties will deepen cooperation and continue to seek cooperation opportunities in various aspects of the automotive recycling industry, including waste vehicle recycling and dismantling, power battery remanufacturing and recycling. An important partner in the field of recycling industry.
Tianqi said that the signing of the memorandum between the company and the Stellantis Group marks a key step in the cooperation between the company and the Stellantis Group in the field of automobile recycling. Based on the above-mentioned business cooperation and the signing of the memorandum, the company and the Stellantis Group will continue to explore more cooperation opportunities in the automotive recycling industry, such as waste vehicle recycling and dismantling, and power battery recycling and remanufacturing. An important partner in the industrial chain. In the future, the company intends to communicate with Stellantis Group on cooperation in overseas markets, and jointly expand the business of recycling power batteries in overseas markets.
In December 2022, Tianqi signed a long-term service agreement with Stellantis (Shanghai) Automobile Co., Ltd., a wholly-owned subsidiary of Stellantis Group. Recycling and recycling services for decommissioned lithium-ion batteries in the Chinese market, establish a full life cycle management system for lithium-ion batteries, and ensure the orderly recycling and standardized treatment of discarded lithium-ion batteries.
