EV battery recycling set to see sustained growth

Electric vehicle battery recycling could be a promising business, though the EV industry is facing challenges caused by the impact of the US trade policy and an economic slowdown, says management consultancy firm Arthur D Little (ADL).

- LAMONPHET APISITNIRAN

This kind of recycling aligns with efforts to promote sustainability in the EV industry.

"We believe EV battery recycling will be a key business between 2030 and 2040, shifting away from today’s focus on battery manufacturing," said Akshay Prasad, principal at ADL’s Southeast Asia’s automotive & manufacturing practices.

Lithium-ion batteries, which are widely used in EVs, are made up of important raw materials, notably lithium iron phosphate, also known as LFP, nickel, manganese and cobalt.