The battery recycling market, integral to the electric vehicles (EV) industry, is projected to grow significantly from $12.8 billion in 2025 to $19.8 billion by 2030, according to a BCC Research report. This growth is driven by a combination of factors, including scarcity of rare earth elements, increasing demand for consumer electronics and EVs, and falling lithium-ion battery prices. Enhanced recycling efforts are necessitated by the global push for stricter emissions regulations and sustainable energy solutions. The recycling process, driven by technological advances and shifts in global EV battery production, particularly in China, highlights the importance of recovering critical materials like lithium, cobalt, and nickel, thereby reducing reliance on mining these scarce resources.
Elsewhere in the market, Fulin Precision was a standout up 20% and closing at CN¥22.22, a new 52-week high. At the same time, Huagong Tech lagged, down 6.7% to end trading at CN¥92.48.
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QuantumScape settled at $15.92 up 11.3%, near its 52-week high.
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Tesla ended the day at $429.83 down 1.4%.
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NIO finished trading at $7.70 down 2.4%, near its 52-week high.
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