As the automotive industry transitions to an electrified future, the number of electric vehicle battery packs in production and on the road are increasing. In conjunction with other fundamental changes, this is essential for decarbonising mobility, but it raises the question – how can we ensure responsible disposal of these systems?
In the EU, it is anticipated that as much as 50% of new vehicle sales will be electric in 2030. Meanwhile, key markets are beginning to tighten legislation on recycled battery content and circularity in production. At the same time, supply chain complexity, geopolitical tensions and other world events are driving up raw battery material prices and squeezing supplier margins.
There is clearly a requirement to further develop battery recycling capacity, as it addresses or – at least – helps alleviate most of these challenges to the industry. This includes the potential to offset virgin raw material with recycled content, limiting cost increases that otherwise could hinder the adoption of electric vehicles.
Our white paper discusses how this requirement presents a major investment opportunity, perhaps one of the largest across the electric vehicle supply chain, detailing how €4.1 billion could be needed to bolster capacity in Europe over the next ten years.