Li-Cycle

Toronto’s Li-Cycle has signed an exclusive agreement with a luxury EV manufacturer to recycle lithium-ion battery scrap at its Germany Spoke facility. The automaker, which remains unnamed, will supply Li-Cycle directly from within Germany. CEO Ajay Kochhar emphasized that the deal strengthens Li-Cycle’s role as a preferred partner for sustainable battery recycling.

The company currently works with 13 EV manufacturers and 15 battery producers, reinforcing its industry presence. As EV adoption rises, Li-Cycle is expanding its Spoke & Hub model to support a circular economy and meet growing demand.

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Li-Cycle, once a leading name in North America’s EV supply chain, is facing significant setbacks. The Toronto-based battery recycling company’s factory in Rochester, N.Y., has been paused since October 2023 due to escalating costs. Li-Cycle’s financial troubles, including layoffs, lawsuits, and stock declines, now threaten its ambitious goal of challenging China’s dominance.

Despite securing a US$375-million loan commitment from the U.S. Department of Energy, the company is struggling to meet conditions for the funds. Co-founder Ajay Kochhar remains optimistic, but delays have dampened confidence in the project.

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