Guangdong Lvtong New Energy Electric Vehicle Technology (301322.SZ) and GEM Co., Ltd. subsidiary Power Regeneration have signed a strategic cooperation framework agreement.

Guangdong Lvtong New Energy Electric Vehicle Technology (301322.SZ) announcement, the company has signed a strategic cooperation framework agreement with GEM Co., Ltd. (002340.SZ) subsidiary, Wuhan Power Battery Recycling Technology Co., Ltd. (referred to as "Power Recycling"). The two parties have decided to combine their strengths in the field of new energy site vehicles and the recycling of power batteries to establish a comprehensive strategic partnership, achieving a full life cycle value chain system for the recycling and utilization of site electric vehicles, power batteries, after-sales maintenance, and material recycling. They aim to build a closed-loop industry chain of "new energy vehicle recycling - power battery recycling - battery material remanufacturing - battery material remanufacturing - power battery remanufacturing", jointly promote the development of green low-carbon industries, enhance global market competitiveness, and achieve the coordinated development of economic and environmental benefits.