TES is a Singapore-based, sustainable technology lifecycle solutions provider covering E-waste recycling, battery recycling, asset management solutions, etc.. The signing of the MoU between Volvo Buses and TES kicks off possible collaboration opportunities in developing 2nd life battery management. It allows both companies to explore possibilities in creating circular economy business models with sustainable battery solutions, determining ownership of end-of-life batteries, developing options for using such batteries in second and third-life applications, and ultimately paving a sustainable road map for Volvo's electromobility journey in Singapore and the region.
"At Volvo Buses, we are committed to leading the transformation of our industry towards a more sustainable future. The MoU signing with TES brings us one step further on the sustainable journey with one of the best possible glo-cal solutions (global standards coupled with local expertise)," said Mats Nilsson, Director of Volvo Buses APAC Central Region.
As an initial step, TES is pledged to provide Volvo with details of its own electronic scrap and battery recycling capabilities in Asia Pacific. In turn, Volvo will provide market insights and potential regional electronic scrap and end-of-life battery needs.
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 that 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."
"Through experience, we know that we need to work closely with our customers and partners to tailor electromobility solutions for each market. At Volvo, circularity is important, ensuring that materials, manufacturing, operations, and recycling meet the highest environmental standards. The MoU signing with TES marks a new milestone of Volvo's true cradle-to-grave holistic approach in the electromobility journey in Singapore and the region," concluded Mats.