The demand for Lithium-ion battery materials is currently in the region of 1,200,000 metric tonnes as of 2022 for Electric Vehicles alone. This number is expected to reach 7,500,000 metric tonnes of required materials by 2030.
Given the shortages of Rare Earth metals already, we have no choice but to recycle used Lithium-ion cells; especially since almost all of these Earth Metals can be extracted from them. This will gradually reduce the dependence on mining and reintroduce these otherwise wasted resources into the market; thus establishing the beginnings of a truly sustainable Circular Economy.