Retired EV batteries to reach 6,700 tonnes by 2030: HKSTP

HKSTP plans to expand its battery storage ecosystem by 60% over the next few years.

Hong Kong is projected to generate nearly 6,700 tonnes of retired electric vehicle (EV) batteries by 2030, highlighting the need for proper recycling and waste management, said the Hong Kong Science and Technology Parks Corporation (HKSTP).

HKSTP said it plans to increase the number of battery and energy storage (BES) companies in its ecosystem by 60% to more than 160 over the next few years.

In its Battery and Energy Storage Strategy Analysis Report, several park companies have already taken the lead in developing recycling technologies.

GRST has developed a non-toxic, water-soluble battery binder that eliminates the need for conventional incineration or strong-acid soaking during battery recycling, cutting recycling-related carbon emissions by up to 80%.

Alongside the city's first large-scale EV battery recycling facility introduced in 2025, these efforts support the development of a green circular economy, HKSTP said.

Global energy storage companies CATL, BYD, and Gotion High-Tech have already established a presence within HKSTP's ecosystem.

Hong Kong's BES development is supported by a four-stage value chain covering material and battery, integration and intelligence, project management and finance, and end-of-life battery management.

The city's high-density urban environment also offers diverse applications for energy storage, from supporting EV fast-charging infrastructure to addressing power constraints in ageing buildings.

More than 60% of Hong Kong's private buildings are over 30 years old, with some facing power supply capacity constraints.

Globally, BES-related investment is expected to reach nearly $40t (US$5t) over the next decade, amidst surging electricity demand.

The rapid rise of artificial intelligence is driving data centre power demand, with global computing-related electricity consumption projected to more than double to 945 terawatt-hours by 2030.