Energy Storage & Fuel Cell Industry
Study Predicts Profitability in EU Battery Recycling
An examination carried out by RWTH Aachen University and PwC forecasts that battery recycling will become a profitable enterprise in the EU within the next decade or so.
Aug 16, 2023
It estimated that EUR nine billion would be needed to build up the sector but that the investment would be money well spent.
Electric vehicle batteries will comprise a major part of the new market, the study found. With its huge automotive industry, Germany has developed into the main European hub for EV battery production in recent years.
“In 2035, recycled materials could cover up to 35 percent of the lithium, nickel and cobalt needed in battery cell production,” PricewaterhouseCoopers industry expert Jörn Neuhausen told news magazine Der Spiegel.
The study predicted that recycling facilities would have excess capacity until 2030. But as of then, the situation looks set to change as larger and larger numbers of EVs get taken off the roads and need to be recycled.
