The industry generates record FDI as it offers alternative to new batteries’ bottlenecks
The battery recycling market generated its highest level of foreign direct investment (FDI) in 2021 as automotive companies look for alternatives to an otherwise very saturated market for electric vehicles' (EVs) batteries.
Battery recycling companies announced seven FDI projects worth $637m in 2021, from four projects worth $69.4m in the previous year, according to figures from foreign investment monitor fDi Markets.
Battery recycling is in high demand as automotive companies look for alternatives to a heavily saturated battery market, where supply is constrained by lack of capacity and bottlenecks along the whole value chain.
“A battery is the best mine of lithium [and] cobalt,” Rachid Yazami, the president of KVI Holdings, a developer of battery technology, said at the New Materials for a Zero-carbon world session of the EBRD annual meeting and business forum on May 11.