LICO, an emerging player in India’s battery recycling industry, is set to scale up its operations to meet the growing demand for electric vehicle (EV) batteries.

The company’s Vemagal facility, near Bengaluru, is currently processing 17,000 to 18,000 tonne of batteries annually through mechanical separation, turning them into "black mass." With over Rs 80 crore already invested, LICO plans to expand further with a hydrometallurgy plant by 2026-27 to extract high-purity metals like lithium, cobalt, and nickel, bringing total investments to around Rs 400 crore. The company is also planning a second unit in North India to reduce transportation costs.

Beyond recycling, LICO aims to repurpose end-of-life EV batteries into energy storage packs for industrial and community use. The government’s recent Rs 1,500 crore scheme for critical mineral recycling aims to address some gaps in supply chain.