The global electric vehicle (EV) battery recycling market is anticipated to experience significant growth, projected to expand from USD 0.54 billion in 2024 to USD 23.72 billion by 2035, driven by a substantial compound annual growth rate of 40.9%. This growth trajectory is fueled by advanced recycling technologies such as hydrometallurgy and direct recycling, which are improving material recovery efficiency crucial for battery production. Strategic partnerships among automakers, battery producers, and recyclers, evidenced by collaborations between companies like Iveco and Mercedes-Benz, are enhancing market development. Additionally, Germany is emerging as a key player in Europe, supported by strong automotive alliances and eco-friendly policies. Key industry players include Contemporary Amperex Technology, GEM Co., and Umicore, among others, who are leading advancements in recycling processes for materials like nickel, cobalt, and copper.
In other market news, Gotion High-techLtd was a standout up 9.2% and ending trading at CN¥23.25. This week, Gotion hosted its 2024 earnings call, contributing to the 9.2% rise in its stock price. In the meantime, Mercedes-Benz Group lagged, down 5.8% to end trading at €50.87.
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Tesla ended the day at $284.82 up 3.1%.
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BYD closed at HK$387.00 up 0.3%.
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Ford Motor finished flat at, $10.28.
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