Wednesday, March 29, 2023
Home Technology GM invests in Canadian battery recycler to fight supply shortage • TechCrunch

GM invests in Canadian battery recycler to fight supply shortage • TechCrunch

Common Motors is partnering with a Canadian battery recycler to provide new batteries from recovered battery supplies, because it goals to scale EV manufacturing in North America amid provide shortages and rising prices.

The automaker invested via its GM Ventures arm in a Sequence A financing spherical for Lithion Recycling, a developer of superior battery recycling expertise. Collectively, the 2 corporations will work towards establishing a round ecosystem for recycling EV batteries, a essential bottleneck because the business races to section out fuel engines on the finish of the last decade.

Till just lately, the EV rollout worldwide has targeted on constructing ample charging stations to help the spate of battery-electric automobiles anticipated on the street by 2030. However the COVID-19 pandemic and battle in Ukraine halted international provide chains, making the uncooked supplies used for batteries scarcer and more expensive.

GM and different automakers are pushing for extra management over the provision by onshoring operations and bringing extra of the battery lifecycle in house. About 15 million tons of lithium-ion batteries are anticipated to retire by 2030, the deadline most automakers have set for phasing out gas-engine automobiles, based on AquaMetals.

Redwood Materials has partnerships with Ford, Volkswagen and Volvo, in addition to a cope with Toyota, to gather, refurbish and recycle batteries and battery supplies to ship to the automaker’s upcoming North Carolina battery plant. The Nevada-based metals recycler expects the marketplace for battery recycling to high $18.7 billion by the top of the last decade.

The partnership with Lithion will assist GM construct “a provide chain and recycling technique that may develop with us,” Jeff Morrison, GM’s vice chairman of worldwide buying and provide chain, mentioned in an announcement.

“In Lithion’s expertise, we see the chance to get better and reuse uncooked materials in our Ultium battery packs, making the EVs we produce much more sustainable and serving to drive down prices,” Morrison mentioned.

Lithion plans to launch its first industrial operations in 2023, with a capability of seven,500 metric tons per yr of lithium-ion batteries. The launch of Lithion’s first hydrometallurgical plant is slated for 2025.

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