The use of lithium-ion batteries increased exponentially with the rise of electric vehicles in the market. From two-wheelers to public transport buses, everywhere we are seeing the growth of electric vehicles. The government is also subsidising the purchase of EVs to cut down the burden on natural non-renewable resources like CNG, Diesel and Petrol. This is the correct time to grab this business opportunity and set up a Lithium Ion Battery Recycling Plant in India. According to a recent report, there are expectations that India’s electric vehicle market will grow at a compounded annual growth rate of 90%. This expected rise is mainly for the two-wheelers and the three-wheelers while the four-wheelers are still lagging behind because of the high price.
What is Lithium-Ion Battery?
A lithium-ion battery, commonly referred to as a lithium-ion battery, is a rechargeable battery. It has become incredibly popular in various electronic devices. It is a type of secondary battery that utilizes lithium ions to store and release electrical energy. Li-ion batteries are known for their high energy density, which means they can store a significant amount of energy in a relatively small and lightweight package. This makes them ideal for portable devices like smartphones, laptops, and tablets.
The battery consists of two electrodes, an anode and a cathode. The electrolyte separates these electrodes and allows the lithium ions to move between them during the charging and discharging processes. When the charging process is going on, the lithium ions move from the cathode to the anode, where they are stored and when the battery is draining means is in use, the lithium ions flow back to the cathode. This movement generates an electric current that powers the device. The anode typically contains graphite while the cathodes use lithium cobalt oxide, lithium iron phosphate, or other materials.
What is Lithium Ion Battery Recycling Plant?
In a lithium-ion battery recycling plant, the recycler breaks down these batteries and processes their components to obtain raw materials such as lithium, nickel, cobalt, manganese etc. The manufacturers buy these recovered raw materials for the manufacturing of new batteries. In this manner, we can help our environment by reducing the resources required to fulfil the need for li-ion batteries for various different purposes.