According to the study RWTH University (Rhineland-Westphalia Polytechnic) Aix-la-Chapelle in Germany and office with PwC advice, creating a battery recycling system in the European Union will cost approx nine billion euros by 2035.
But it will be profitable. According to Jorn Neuhausen, a sector expert at PwC, the recycling of electric vehicle batteries in Europe “ will be a profitable and stable activity until 2035“. Before specifying: In 2035, recycled materials could account for up to 30% of lithium, nickel and cobalt needs for the production of power cells.“.
After 2030, the battery recycling market will grow
Growing electrification and increased battery production for electric vehicles will drive the recycling market in Europe, said Achim Kampker, a professor at RWTH Aachen. In the coming years, it will be mostly waste giga factories cultivation to be processed. The study predicts that refineries will still remain redundant.
But from 2030, things have to change. Indeed, it is at this time that the first large number occurs electric cars will be withdrawn from the market and therefore recycled.
Huge investment
Once this peak is exceeded, processing market will be fully utilized. But the study, conducted jointly by the university and the firm, clarifies that this will require a colossal investment from market players.
The given numbers are huge. More than 2.2 billion euros annually for the recycling of battery-related waste. This is approximately 570,000 tons of recyclable materials per year, including rare minerals such as lithium, cobalt, nickel, manganese or even graphite.
The amount of processing will allow you to get a certain profitability
Due to the high investment costs, the dedicated infrastructures will become huge complexes optimized exclusively for processing. With a large amount of materials coming from end-of-life electric vehicles, battery recycling its value will decrease quite quickly. And according to the study, the battery industry will become less expensive, which will simultaneously lead to lower costs of electric vehicles. Patience!
Source: Automobilwoche
Read also:
Autonomy, charging time: what do the batteries of the future promise us?
Volkswagen will supply batteries for its electric cars from Hyundai
Electric cars: the transition will not be so easy
Source: Auto Plus
Robert is an experienced journalist who has been covering the automobile industry for over a decade. He has a deep understanding of the latest technologies and trends in the industry and is known for his thorough and in-depth reporting.