Attero to invest Rs 300 cr to boost Li-ion battery recycling capacity

Attero, an E-waste recycling firm makes plans for making an investment worth Rs 300 crore for increasing its current lithium-ion battery recycling capacity. According to an official, the capacity will be increased to 11,000 tonne in 2022.

Market estimates state that India is generating over 50,000 tonne of lithium-ion battery waste each year and the growing range is between 40 to 80% which depends on the different models being utilised for computing E- vehicle growth in India, CEO, and co-founder, Attero Recycling, Nitin Gupta.

He further said that by the end of the year 2022, the company will be approximately 22 % of the existing market size. The company is making new investments and will be having a significant amount of investment for building up the given capacity. They have plans to make an investment of Rs 300 crore.

Along with the lithium-ion recycling capacity, the company earlier stated to almost double the complete electronic waste recycling capacity, from 1.44 lakh metric tonne to 3 lakh metric tonne by the end of 2022.

He said that with the transition to electric vehicles, the country will be saving forex spent on petrol import as well as the expenditure for the import of lithium-ion batteries from China.

Ensuring the growth of recycling infrastructure in India, meeting its current local demand, and making the country self-sufficient in battery materials is what the company is working on.

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