How many end-of-life BEV batteries will be available in Greater China by 2032?
Following years of surging new-energy vehicle (NEV) sales, Greater China is in the midst of its peak period of battery-electric vehicle (BEV) battery retirement. We analyze the supply of end-of-life batteries and availability of battery production scrap against the backdrop of an evolving battery recycling market.
It is well known that Greater China is swiftly transitioning to electrification and the region is by far the largest market for battery-electric vehicles. Here is an interesting statistic: for every three new cars sold in mainland China in May 2023, one was powered by alternative energy. New car buyers are witnessing a rapidly expanding product range, and technology iterations in BEVs are appearing at a much faster pace than before.