GEM, Lvtong New Energy Enter Green Value Chain Agreement

MT Newswires Live09-18

GEM (SHE:002340) subsidiary Wuhan Power Battery Recycling Technology signed a strategic cooperation framework agreement with Guangdong LvTong New Energy Electric Vehicle Technology (SHE:301322) to jointly develop a full life-cycle green value chain.

The partnership will focus on recycling and reusing new energy vehicles and power batteries, covering battery system supply, vehicle procurement, asset leasing and compliant recycling.

The five-year agreement aims to build a closed-loop industry chain from vehicle recovery to battery remanufacturing to boost green, low-carbon development.

GEM shares were down 1% in recent trade, while those of Lvtong New Energy rose 2%.

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