"Disassembly and recycling of battery-electric vehicles is shifting from a niche sector into a high-growth industry. Consultancy McKinsey & Co. projects that global revenues across the battery recycling chain are set to grow to roughly $70 billion a year by 2040, up from about $2.5 billion last year. The bullish outlook is driven by an expected wave of retired batteries after 2030, as new EVs launched in recent years are ready to be scrapped. Automakers including BMW, Volkswagen and Renault are expanding recycling partnerships, while companies such as R3 Robotics are deploying robots to industrialize disassembly at competitive prices."
"One big driving factor in battery recycling is, unsurprisingly, regulation. Until the day when transforming old batteries into new ones is just as economicalor more sothan mining and refining new materials, the industry will need a helping hand to scale up. Both the EU and China have some serious requirements for recycling battery materials, including China's mandatory take-back rules for batteries."
EV battery recycling is transitioning from a niche activity into a major industry as many early electric vehicles approach retirement. Consultancy projections peg global recycling-chain revenues growing from about $2.5 billion to roughly $70 billion annually by 2040. Automakers such as BMW, Volkswagen and Renault are expanding recycling partnerships while robotics firms are industrializing disassembly to lower costs. Regulatory pressure in regions like the EU and China, including mandatory take-back rules, further incentivizes recycling. Recycling profitability depends on making reused materials as cost-competitive as newly mined and refined inputs. Mineral-rich recycled waste is increasingly valuable for creating new battery cells.
Read at insideevs.com
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