Ann: Mercedes - Benz Battery Recycling Plant Purchase Order, page-114

Monday key feature article in the FT - " Why the electric vehicle battery race needs a recycling revolution."
Article underlines the need for and enormous potential in this space.
One analyst quoted in the article suggested the Chinese recyclers are currently "far ahead" of western peers in technology and scale. However, the Europeans and Americans will strongly support their local recycling players.
The EU is considering declaring black mass as hazardous material - preventing it from leaving the EU to be further recycled in China.
Lots of competitors for NMT around the world but when they are predicting a stock of 350 million EVs by 2030, then that total addressable market is huge.
Interesting to note that Mercedes has established a partnership with Chinese group GEM to recycle end of life batteries in China.
Aso the article discusses the competition between the Lithium Iron Phosphate batteries (LFP) favoured by the Chinese versus the Lithium Nickel, manganese, cobalt batteries (NMC) favoured by the Japanese and Koreans - suggestion being that NMC batteries will offer better margins for recyclers.
NMT is really well placed in Europe with strong backing by the EU for recyclers.
Worth a read if you can access the article.