Economic Viability of Lithium-Ion Battery Recycling

Abstract

The rise of electric vehicles (EVs) has created a greater focus on lithium ion battery (LIBs) recycling. This paper compares the economic viability of LIB recycling in the United States, China, and Europe. It examines the three major recycling processes: hydrometallurgy, pyrometallurgy, and direct recycling. The analysis looks at how viable these processes are for both lithium iron phosphate (LFP) and nickel manganese cobalt (NMC) chemistries. It breaks down both the capex and opex as well as what the value of the recovered materials are based on current market values. This study and its underlying model may be used as a guide for investment and to direct policy for long term viable LIB recycling processes.