'Surging' EV Demand to Drive TAM Higher for Battery Recycler Li-Cycle
Battery recycler Li-Cycle sees its total addressable market (TAM) opportunity in North America growing to more than 420,000 metric tons (463,000 U.S. tons) of lithium-ion “battery equivalent” by 2025, said CEO Ajay Kochhar on an earnings call Thursday for fiscal…
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Q1 ended Jan. 31. Li-Cycle’s European TAM is projected to exceed 300,000 metric tons (331,000 U.S. tons) “available for recycling” by 2025, he said. “This is largely attributable to surging demand for electric vehicles, which is driving incumbent and emerging electric vehicle OEMs to accelerate their demand for battery materials with increased gigafactory investments,” he said. “We have seen a supply and demand imbalance for these critical battery materials, driving pricing to all-time highs, particularly for nickel and lithium.”