Introduction to Circular Economy
Circular economy redefines growth, focusing on positive society-wide benefits. It entails gradually decoupling economic activity from the consumption of finite resources and designing waste out of the system.
EVs Impact on Resources
Electric vehicles (EVs) reduce greenhouse emissions but heighten demand for metals like lithium, cobalt, and nickel. Ensuring a sustainable supply of these materials is a growing concern in the EV industry.
Battery Lifecycle Innovation
Innovations in battery design, including modularity and ease of disassembly, enhance recycling and repurposing potential, reducing waste and pressure on raw materials in the EV industry.
Second-Life Applications
EV batteries can have a second life in stationary storage applications, providing a buffer for renewable energy sources. This repurposing extends the battery's lifecycle and offsets the need for new resource extraction.
Recycling Infrastructure Growth
The EV industry is fostering the development of advanced recycling technologies and infrastructures, aiming to reclaim over 90% of the materials from retired EV batteries, creating a more sustainable lifecycle.Unexpected Material Source
Old EV batteries are being mined to extract precious materials, making them a surprising urban 'mine' for critical resources.
What is the main goal of circular economy?
Decouple activity from finite resources
Increase consumption of finite resources
Maximize electronic vehicle production
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