LG Chem and LG Energy Solution are buying 20,000 tonnes of nickel over 10 years for batteries from the Ontario-based battery and scrap recycler. (The Logic)

Talking point: Li-Cycle and its partner, mining- and energy-logistics firm Traxys, say they will recycle enough nickel in New York for LG to power 300,000 “high-performing” electric vehicles in the next decade—which is no small feat. The deal comes as automakers forge ahead with their EV plans: Ford is planning production capacity for 600,000 EVs globally by 2023, and GM wants to sell one million EVs worldwide by 2025. These companies may become pressed for nickel, which Tesla CEO Elon Musk has called the “biggest concern” for EV batteries. Li-Cycle is spending US$485 million from its existing balance sheet to upsize capacity at its New York hub by more than 40 per cent, hoping it will eventually yield enough materials for 225,000 EVs a year. The deal with LG comes as Ontario is in advanced talks with the South Korean company to potentially build a $2-billion battery plant, as my colleague Jesse reported last week. Li-Cycle said its facility in Rochester, about a three-hour drive from Toronto, will be “fully integrated” with its other facilities across North America, and the company aims to be the No. 1 or 2 “domestic U.S.-based supplier of battery-grade advanced materials.”