The next big compression in battery material is old batteries

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A global rush to recycle batteries is good news for automakers worried about future raw material supplies. But the wave of new factories poses a big risk to the recycling industry itself: there isn’t enough scrap metal yet to feed them all.

Big-name auto giants, specialist recycling companies and even miner Glencore are all pouring money into turning waste into the products needed to fuel the electric vehicle revolution. As a result, global battery recycling capacity will increase nearly 10-fold between 2021 and 2025 and is expected to exceed available scrap supply this year, according to consultancy Circular Energy Storage.

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