China is estimated to see 200,000 mt of electric vehicle (EV) battery scrap by 2020, according to a local news report, citing data from China Automotive Technology & Research Centre.
Recovery rates for cobalt and lithium carbonate stand at 95% and 85%, respectively, based on current technology. The overall EV battery scrap market is likely to value up to 10.7 billion yuan by 2020 and up to 24.5 billion yuan by 2024, based on the current price trends of cobalt and lithium carbonate, the report noted.
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