From east Asia to Europe and North America, companies along the battery supply chain are investing billions of dollars in recycling capabilities as they confront projected shortages of the raw materials that will power the next generation of electric vehicles.

But as carmakers, battery producers and miners develop their own recycling capacity or partner with specialists in an effort to make supply chains more secure, greener and ultimately more profitable, fundamental aspects of the nascent industry are yet to be worked out.

“Right now everyone is concerned about how we can set up all the battery factories that we need,” said Andreas Breiter, who runs McKinsey’s Center for Future Mobility in North America. “But in 10 years or so, the question will be what we do with all these batteries once they come back.”