As electric vehicles continue to become more common, it is vital to have a plan for used EV batteries. The improvement of technology, soaring gas prices and the recent changes in legislation banning the sale of new fuel powered cars have driven EVs to a great deal of outbreak. According to the investment bank UBS, by the year 2025, 20 percent of all new cars sold will be electric, 40 percent by 2030, and by 2040 all new cars sold will be electric.
While EV battery manufacturing begins to increase, so do retired and unwanted batteries. As EV batteries reach the end of their life they need to be handled properly and responsibly. Improper handling of batteries can cause contamination of water, soil and ecosystems and even cause fires.
Nickel and cobalt are two cathode materials used in EV batteries and are in high demand. Recycling and reusing these materials lowers the need for virgin mining, which also reduces the environmental harm mining is known to cause.
Currently, the recycling of lithium-ion batteries is a fairly new concept that is still finding its place within the recycling industry, but not for long. EVs are being launched at a faster rate and soon will take over fuel vehicles and come to be the most sold cars globally. With that comes landfills of EV batteries, and it is very important these batteries have a proper place to go to.
Not only does the mining of these materials take a huge toll on the environment, but it is also an intensive process. If most of the materials used for EV batteries were to be recycled, we can confirm that they will not run out, which in return decreases the heavy mining and in the long run helps the EV supply chain.
Companies such as HOBI are great disposition facilities for recycling used and retired equipment, including used EV batteries. HOBI focuses on maximizing the return value of retired assets and ensuring they are properly disposed, as well as preventing waste and reusing products as long as possible.
For more information about our ITAD services call 817-814-2620, visit the HOBI website, or contact HOBI at email@example.com.