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That's not how recycling works.
Most recycling today is PR anyway. Recycled stuff gets dumped into some poor third world country.
lithium and cobalt are highly recyclable. The problem is not recycling them the problem is getting all the recyclable batteries into the circular manufacturing process.
There's at least one company recycling EV batteries already, and that's even with the small amount of end-of-life batteries out there (most are still on the road): https://arstechnica.com/cars/2023/03/heres-what-redwood-learned-in-its-first-year-of-ev-battery-recycling/
That's definitely the case for low/zero value materials like plastics. But the materials in EV batteries are way too valuable to just throw away.