Front Line: Expanding the EV Battery Pipeline
February 21, 2023
The auto and battery industries are investing billions of dollars to upgrade and build factories to meet increasing demand for electric vehicles (EVs). But they face a shortage of rare earth materials that go into making these batteries. This is causing the price of EVs to skyrocket.
Fortunately, the materials are highly recyclable. Benchmark Mineral Intelligence says that such scrap will account for about 78 percent of recyclable materials globally in 2025 and remain the main source for recyclers until the mid-2030s, when used batteries take over.