Updated: Aug 16
We've talked about the EV theme earlier and how India's low EV penetration makes the opportunity size much bigger for us. In India, the transition pace towards electric vehicles is likely to be much faster as compared to early adopting countries like China, Europe.
With the rapid growth of battery electric vehicles, battery recycling is also an important aspect of the electric vehicles revolution. In an electric vehicle battery, a cathode is a terminal through which electric current flows out of a polarized electrical device. Nickel and cobalt are two important cathode metals used in EV batteries. Cathode material can contribute to a significant amount of the battery weight. These materials are high in demand, and they can all be recycled and reused to make new batteries while reducing the need for virgin mining.