To enhance this pace of EV growth, emphasis should be on improving the current inspection technologies and policies to ensure the safe and sustainable reusability and recyclability of batteries
Surging demand for electric vehicles, leading to a significant accumulation of end-of-life batteries in the coming decade.
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Mckinsey estimates that the supply of the second-life lithium-ion battery could surpass 200 GWh per year by 2030 (refer to Figure 1). Experts estimate that the raw materials contained within batteries produced in the last five years alone are valued at €20 billion, a figure projected to skyrocket to €600 billion by 2030 (Lopez, J., 2024). These figures underscore the immense economic potential that can be unlocked by the repurposing and recycling industry.
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                                Figure 1: Supply of lithium-ion battery after first-life application
Source: Mckinsey
[This article has been published with permission from IIM Bangalore. www.iimb.ac.in Views expressed are personal.]