Stay updated with breaking news from Texas Based Ecobat. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
/cloudfront-us-east-1.images.arcpublishing.com/tgam/I5EMRNKQFBL5FPGR5AIELLBTZ4.JPG)
The Inflation Reduction Act includes a clause that automatically qualifies EV battery materials recycled in the U.S. as American-made for subsidies, regardless of their origin
Recycling global market projected to grow from $11bn in 2022 to $18bn by 2028
China handles virtually all EV battery recycling in a global market projected to grow from $11 billion in 2022 to $18 billion by 2028, according to research firm EMR.
Nick Carey: The U.S. Inflation Reduction Act triggers a race to recycle EV batteries in North America, challenging China's dominance. The act qualifies American-made subsidies for U.S.-recycled battery materials, boosting local factory building and encouraging research for recyclable batteries. As demand for EVs grows, China's virtual monopoly on battery recycling faces competition from a surge of U.S. recycling plants.
A little-publicized clause in the U.S. Inflation Reduction Act has companies scrambling to recycle electric vehicle batteries in North America, putting the region at the forefront of a global race...