RIYADH: Indian battery maker Attero is eyeing investing $1 billion over five years to build battery recycling plants in Europe, the US and Indonesia, in response to a global shift to electric vehicles, according to a report in Bloomberg.
The report noted that the company is planning to build lithium-ion battery recycling plants in Poland, and Ohio, along with Indonesia.
The recycling plant in Poland will begin operations by the end of 2022, with the Ohio facility due to come online by the third quarter of 2023.
The plant in Indonesia will start functioning by the first quarter of 2024.
Nitin Gupta, the CEO of Attero, revealed that the company is planning to recycle over 300,000 metric tons of lithium-ion battery waste annually by 2027.
He also added that these three new recycling plants will help Attero meet over 15 percent of the world’s demand for cobalt, lithium, graphite and nickel.
