The battery recyclability on US soil, combined with government incentives, is creating a factory building boom, according to. Even if automakers source critical minerals – primarily consisting of lithium, nickel, and cobalt – from other countries, recycling them locally could reap great dividends.
The company has obtained a $375 million loan from the US government to build a recycling plant in New York. Ascend Elements, which already has a recycling factory in Georgia, with plans for another in Kentucky, received a nearly $500M grant from the US Department of Energy.
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