I. Introduction
At present, driven by national policies and market choices, China's new energy vehicle sales have grown rapidly. The indispensable power battery for new energy vehicles is also booming. According to industry estimates, the power battery capacity required by China's new energy vehicle market will be about 1000 to 1200GWh by 2025 [1], but the on-board power battery capacity is no longer suitable for electric vehicles if it is less than 80% [2]. The total number of retired power batteries in China has reached 25GWh in 2020 and is expected to exceed 100GWh in 2025 [3]. If a large number of retired power batteries are directly scrapped, it will not only lead to waste of resources but also cause environmental pollution and safety problems. The application of retired power batteries in echelon energy storage system can maximize the value of retired batteries, and has a significant role in promoting the development goals of environmental protection and resource conservation.