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(Kitco News) - With China setting the tempo in the electric vehicle space, the country also dominates battery metal recycling, noted Hans Erin Melin, managing director of Circular Energy Storage.
On June 22, 2023, Melin spoke to Kitco at the 15th Lithium Supply and Battery Raw Materials 2023 in Henderson, Nevada.
Circular Energy Storage is a London-based consultancy firm focused on the lithium-ion battery end-of-life market. Circular Energy provides consulting help for companies and organizations with decisions involving reusing and recycling lithium-ion batteries.
China's importance as an EV manufacturing country is increasing rapidly, noted Melin in a report his consultancy published in March. Sixty-seven percent of the world's LEV's (light electric vehicles) placed on the market in 2022 were produced in China. This will only increase, both due to continued growth in the domestic market and also for exports to especially Europe and emerging EV markets, notes Melin in the report.
With China dominating the EV sector, that also gives the country an out-sizes impact upon the battery recycling sector.
Melin noted that about 600,000 tonnes of material were available for recycling last year.
"[About] two-thirds of that is produced in China, because it's the biggest [market], which means that they place most electric vehicles on the road," said Melin. "Because they are the largest producer of batteries, 75 to 80 percent of the scrap is generated in China."
Coverage of 15th Lithium Supply and Battery Raw Materials 2023 sponsored by Lindian Resources (ASX:LIN).
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