The Scholz- Hongqiao Joint Venture’sflagship project will significantly contribute to the further development of the circular economy and to the high-quality improvement of the aluminum production.
The 190 million Euro recycling project, which is planned to process up to 40,000 end-of-life vehicles in its first phase by 2022, will save about 800.000 tons of carbon dioxide emissions per year. When the full operational capacity is reached, Scholz will also help Hongqiao to produce 500.000 tons of green aluminum and at the same time will save up to 1.9 million tons of CO2emissions per year.
To be future-ready Rafael Suchan, Chief Executive Officer of Scholz, also announced a feasibility study to recycle 50,000 electric vehicles and their batteries at the new yard to be built. The Scholz-Hongqiao JV plans to use its existing European and German research and development center to contribute in building these new capacities in China.
Our project comprehensively supports the intended enhancement of the circular economy and sustainability development, aiming for this new facility in Shandong Province to pave the way for both Chinese and international industrial players.