New Delhi, April 25 -- As electric vehicles (EVs) gain popularity in India, domestic e-waste recycling startups are positioning themselves to capitalise on a lucrative new revenue stream - recycling lithium-ion batteries from EVs reaching the end of their usable life cycle.
EVs started gaining traction in India around 2017-18, and the first wave of batteries from those early models are now nearing the end of their typical 5-8 year lifespan.
This emerging stream of end-of-life EV batteries has already impacted the volumes, revenues and profits of major Indian recyclers.
Nitin Gupta, co-founder and CEO of Attero Recycling, stated, The first set of EVs sold in India is about to retire now, and some of the batteries have already started c...