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Can battery recycling end US dependence on China? – londonbusinessblog.com

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The inflation reduction Act, signed by President Joe Biden earlier this month, puts the US on the path to meeting its carbon reduction targets, in part by boosting the EV market. It has also thrown that same market into near-term chaos by demanding that entire supply chains be restructured in just a few years.

The catalyst is the high requirements of the IRA where automakers can purchase critical battery materials if they want to qualify for the $7,500 tax credit for clean vehicles. China, the world’s largest producer of such supplies, is not on the list.

As a result, many in the industry are turning their heads to battery recycling companies that promise to provide automakers with at least some of the materials they will need in the coming years to produce the wave of EVs that hit the market. This space has already seen significant recent investment in VC, especially as millions of tons of lithium-ion batteries are expected to be retired by 2030.

The new legislation has sent a signal to recyclers, battery makers and car manufacturers that 2030 is not fast enough.

Ending Dependence on China

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