"Reviving Dead EV Batteries: US Incentives Transform Waste into Wealth"

The U.S. Inflation Reduction Act includes a clause that qualifies electric vehicle (EV) battery materials recycled in the U.S. as American-made for subsidies, sparking a race among companies to recycle EV batteries in North America and challenge China's dominance in the field. This has led to a boom in U.S. factory building and research into recyclable batteries, potentially making it harder for developing countries to purchase used EVs. While China currently handles most EV battery recycling, the U.S. incentives are driving the development of closed-loop supply chains and encouraging companies to move faster on recycling efforts. The global market for EV battery recycling is projected to grow from $11 billion in 2022 to $18 billion by 2028.