Powering the Future 2025

Images: Getty Images Disclaimer This document is published by the World Economic Forum as a contribution to a project, insight area or interaction. The findings, interpretations and conclusions expressed herein are a result of a collaborative process facilitated and endorsed by the World Economic Forum but whose results do not necessarily represent the views of the World Economic Forum, nor the entirety of its Members, Partners or other stakeholders. © 2025 World Economic Forum. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, including photocopying and recording, or by any information storage and retrieval system.Contents Foreword 3 Executive summary 4 1 Introduction 6 1.1 The implications of rising demand for EV batteries 6 1.2 A circular battery economy 8 1.3 Report approach 9 2 Concerns about today’s battery value chain 10 2.1 Lack of transparency across the full value chain 10 2.2 Battery design and data access 12 2.3 Challenging economics of recycling and second life 13 2.4 Vulnerabilities and inequitable harms and benefits of value chain design 15 2.5 Workforce development and transition needs 17 3 Recommendations 18 3.1 Track-and-trace platforms 18 3.2 Design change and data standards 20 3.3 Policy to address economic and technical challenges 23 Case study 1: Triple-bottom-line accounting for EVB recycling 27 3.4 Regional value chains and cross-border movement 28 Case study 2: Challenges faced by a small island nation 31 3.5 Workforce development and transition 32 Conclusion 35 Contributors 36 Endnotes 38 Powering the Future: Overcoming Battery Supply Chain Challenges with Circularity 2