Gravita India's CEO Yogesh Malhotra said that they are going to enter the EV battery recycling business. According to the company the demand for Li-ion batteries is going to increase in the next 6 to 7 years and the company wants to be ready for it.
Currently, 87 percent of Gravita India’s business comes from recycling lead batteries and the rest is from plastic and aluminum recycling. It plans to increase business from segments other than lead to about 25 percent.
Malhotra said the government’s increased focus on recycling has helped to improve the availability of raw material domestically. With the implementation of the Battery Waste Management Rules, battery companies have increased their share of recycling through authorised recyclers which has significantly boosted the availability of raw material in the domestic market. The dependance on imported scrap is easing and over the next few years, the ratio of scrap from imports to domestically recycled material will be 30:70, from the current levels of 70:30. The reduction in scrap imports will improve the company’s working capital, which stands at Rs 200 crore at present.
The company has plans for increasing their recycling segments too.
“We already have recycling facilities in Jaipur, Jammu, Gandhidham and Chittoor in Andhra Pradesh. After the establishment of this plant, imported raw material will be recycled in Mundra and will be exported back from there,” Malhotra said. “Scrap from Africa, which was earlier imported to India, will now be consumed by our four African recycling facilities in Ghana, Tanzania, Senegal and Mozambique, resulting in further savings in logistic costs and reduction of the working capital cycle.”
So Gravita India Ltd. is a Jaipur based giant Indian Multinational Company having been in the Lead Acid battery recycling business and has customer presence in more than 50 countries. To see such a large company investing in Lithium battery recycling is fantastic.
Lithium battery recyling is not an issue now for next 4-5 years but will be relevant in the later part of this decade and we are happy to know that Gravita and other players will play a key role.When it comes to a circular economy, the best example is recycling Lithium cells. Companies are able to extract more than 90% of Lithium, Graphite, Copper and other materials from used cells.
Ultimately the goal is to develop a circular battery supply chain with recycling which will supplying the raw materials back to the cell manufacturer thus eliminating the need for expensive mining.
This kind of circular economy is a beautiful thing. Lets hope we see this happen in the coming decade.