You Only Live Once, unless you are an EV battery
Even the most passionate electric vehicle advocates will reluctantly agree that lithium-ion batteries have a limited life span. Just how long that life will be is a subject of great debate and importance, and the jury is still out. Look for an article on the subject here at Torque News in the near future, but for now assume that a typical EV battery will last for 10 years or so.
When the capacity falls below 80% of its initial value, your Nissan LEAF is only achieving 50 or 60 miles of range and you decide the vehicle no longer fulfills its purpose, what happens to the battery? Assuming you bought your vehicle in 2010 or later and your battery lasted a decade, the year will be at least 2020 and one of two things will happen.
Option 1, the less desirable of the two, is that the battery will be sent straight to a recycling facility. There, the battery will be shredded and the metals such as cobalt, aluminum, nickel, and copper will be recovered. The lithium salts will be filtered out and converted to lithium carbonate, though the economic value of the lithium itself is minimal compared to metals like nickel and cobalt.