According to Green Car Congress, NEO officials stated that this move should make battery-required materials more price competitive, which could mean that EV batteries could become cheaper.

Company experts estimate that the price of silicon that goes into batteries should be reduced between 30 and 40%.

The Asia-based partner is expected to deliver the recycled silicon sometime this month so that NEO can begin testing the new materials.

Company officials also started discussions to enter the North American EV-battery market, with more collaborations and joint development efforts being possible in the future.