Global commercial vehicle solutions provider selects TES to develop its Electronic Vehicle (EV) battery and electronic scrap recycling efforts in Southeast Asia.
SINGAPORE, 3 November 2022 — Singapore-based recycling and IT asset disposal companies TES and Volvo Buses Singapore have signed a Memorandum of Understanding (MoU) to explore options for creating circular economy outcomes for electronic scrap and electric vehicle (EV) batteries stemming from Volvo Buses’ operations in Singapore.
The two parties say the MoU resulted from a mutual understanding that the companies are likely to benefit from collaboration opportunities, establishing a business relationship concerning recycling services in Singapore, and finding synergies between TES and Volvo Buses regarding end-of-life electronic assets and battery management in the region.
Volvo Buses, part of the Volvo Group, is one of the world’s leading providers of sustainable people transport solutions, offering premium city and intercity buses, coaches, and bus chassis, as well as a wide range of services for increased productivity, uptime, and safety. In Singapore, Volvo Buses has delivered many first-of-their-kind diesels and electrified buses over the last four decades, contributing positively to the public bus transport landscape.
The MoU allows Volvo Buses and TES to explore collaboration opportunities in Singapore with regard to circular economy business models with sustainable battery solutions, determining ownership of end-of-life batteries, and exploring options for the use of such batteries in second and third-life applications.
As an initial step, TES has pledged to provide Volvo with details of its own electronic scrap and battery recycling capabilities in the Asia Pacific. In turn, Volvo will provide its own market insights and estimates of its regional electronic scrap and end-of-life battery needs.
According to Mats Nilsson, Director of Volvo Buses APAC Central Region, “At Volvo, we believe that partnership is the new leadership. The MoU sign-off with TES brings us one step further on the sustainability journey with one of the best possible glo-cal (global standards coupled with local expertise) solutions. It kicks off the development of second-life battery management on Volvo’s electrification journey.”
David Lee, Chief Strategy Officer of TES, states, “It is an honor to have been selected by Volvo Group Singapore to be their ally in maximizing their recycling potential in Singapore to serve the region. I have every confidence the team at TES will help make Volvo Group a regional leader in the responsible and cost-effective handling of its end-of-life batteries and electronics.”
For more information about TES, visit www.tes-amm.com.