Dead EV batteries turn to gold with U.S. incentives
materials recycled in the U.S. as American-made for subsidies, regardless of their origin. That is important because it qualifies automakers using U.S.-recycled battery materials for EV production incentives.
JB Straubel, CEO of Redwood Materials, which was awarded a $2 billion U.S. government loan in February to build out a battery material recycling and remanufacturing complex in Nevada, said the IRA treats recycled battery materials as locally"urban mined," or materials recovered from scrap rather than obtained from mining.
The race is on to build"closed-loop supply chains" where recycled minerals are put into locally produced new batteries, said Christian Marston, chief technology officer at Altilium Metals, which is building a plant in Bulgaria and plans one in the UK by 2026. The volume of EV batteries available for recycling should grow over tenfold by 2030, said consultant Circular Energy Storage. Around 11.3 Gigawatt hours of batteries reached end of life in 2022, and that should rise to 138 GWh by 2030 — equivalent to roughly 1.5 million EVs — CES said.Some industry officials anticipate rapid growth means 40% of battery materials used in new EVs could come from recycled stocks by 2040.
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