EV Boom Sparks LICO's ₹400 Cr Recycling Power Play.

LICO, a rising player in India’s battery recycling sector, is preparing to significantly scale up its operations in response to the growing demand generated by the electric vehicle (EV) ecosystem.

The company’s Vemagal facility near Bengaluru currently processes 17,000–18,000 tonnes of batteries each year using mechanical separation to produce black mass. Having already invested over ₹80 crore, LICO now plans to establish a hydrometallurgy plant by 2026–27 to extract high-purity lithium, cobalt, and nickel—bringing its total planned investment to approximately ₹400 crore. To further optimise logistics and reduce transportation costs, the company also intends to set up a second facility in North India.

In addition to recycling, LICO is exploring ways to repurpose end-of-life EV batteries into energy storage systems for industrial and community applications. The government’s recent ₹1,500 crore initiative for critical mineral recycling is expected to help strengthen gaps in the supply chain and support companies like LICO in scaling their impact.

News by Rahul Yelligetti.