Where do EV batteries go when they die?

Name: Where do EV batteries go when they die?
Uploaded: 2023-03-29T12:00:01.000Z
Duration: 13 min 13 s

Dozens of electric vehicles are scheduled to debut in the next few years and more than 300 million electric vehicles are expected to be on the world's roads by 2030. The estimated lifetime of an EV battery is 12 to 15 years in moderate climates, but that doesn't mean the batteries end up in landfills. CNBC visits Spiers New Technologies at its headquarters in Oklahoma City to see how EV batteries can be given a second life.

13:13

Wed, Mar 29 20238:00 AM EDT

The American EV market is small in comparison to operations in China and Europe. In 2021, the U.S. accounted for less than 10% of new global EV registrations, while China accounted for 50% and Europe 35%. China also accounts for 70% of the world's global EV battery production capacity, meaning that the U.S. is heavily dependent on imports of battery minerals.

However, a number of companies are currently working on ways to recycle lithium-ion batteries including Spiers New Technologies, or SNT which focuses on remanufacturing, refurbishing, repurposing and recycling EV batteries. With the demand for critical minerals such as graphite, lithium and cobalt expected to increase by 2050, extending the life of an EV battery can be an important step to reduce the need for mining.

CNBC explores if a future without mining is possible and how SNT is looking to play a role.