Battery & Electrification Technology - November/December 2024 - 8

Solving the
Battery Recycling
Challenge
Embracing digitalization is key to overcoming the complexities of battery recycling.
T
8
he surging global popularity
of electric vehicles (EVs)
is
creating a new challenge:
a mounting pile of
spent lithium-ion batteries.
In just a decade, more than
1.2 million tons of lithium-ion batteries
will reach their end-of-life, creating an
urgent need for efficient and profitable
recycling solutions.
This impending battery waste crisis
presents both a challenge and an opportunity.
The ability to sustainably manage
this stockpile of spent batteries becomes
crucial. The question looms large
for industries and policymakers alike:
Are we equipped with the right capabilities
to profitably recycle these batteries,
recovering valuable materials while minimizing
environmental impact?
The EV Battery Landscape
By 2030, the number of EVs globally is
expected to reach 145 million, a staggering
40 percent increase from today.
This exponential growth is driving a
significant reduction in carbon emissions.
The transportation sector currently
accounts for 21 percent of global
carbon emissions, with passenger vehicles
alone responsible for nearly half of
that figure.
As EV popularity soars, so does the demand
for lithium-ion batteries. By 2025,
the consumption of these batteries is projected
to grow by at least 400 percent. This
surge in demand is putting immense pressure
on the battery supply chain. China,
Japan, and South Korea currently manufacture
85 percent of the world's EV batteries.
The battery itself remains the most
expensive component of an EV. Looming
shortages and raw materials price increases
are forcing manufacturers to explore
circular economy solutions. This
includes recovering materials from returned
batteries to build new ones, a key
sustainability strategy.
Battery & Electrification Technology, November/December 2024

Battery & Electrification Technology - November/December 2024

Table of Contents for the Digital Edition of Battery & Electrification Technology - November/December 2024

Battery & Electrification Technology - November/December 2024 - Cover1
Battery & Electrification Technology - November/December 2024 - Cover2
Battery & Electrification Technology - November/December 2024 - 1
Battery & Electrification Technology - November/December 2024 - 2
Battery & Electrification Technology - November/December 2024 - 3
Battery & Electrification Technology - November/December 2024 - 4
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Battery & Electrification Technology - November/December 2024 - 8
Battery & Electrification Technology - November/December 2024 - 9
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Battery & Electrification Technology - November/December 2024 - Cover3
Battery & Electrification Technology - November/December 2024 - Cover4
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