Mapping a circular business opportunity in electric vehicle battery value chain: A multi-stakeholder framework to create a win–win–win situation

Abstract

Electric vehicle (EV) batteries provide new business opportunities through circularity, but identifying these opportunities requires multi-stakeholder collaboration considering the interests of stakeholders, the environment, and society. However, circular business model frameworks to support and guide firms in identifying and mapping multidirectional value in the early phases of designing new circular business models are lacking. Thus, this research proposes a framework that could support stakeholders in the EV battery value chain in identifying and mapping circular business opportunities and multidirectional value among stakeholders in order to generate a win–win–win situation in the value-creation process. The proposed framework for multi-stakeholder circular business model innovation consists of four phases—namely, initiation, ideation, testing, and implementation—subdivided into eight steps to address key challenges facing firms and encourage discussions on shared values and visions among all stakeholders in the early phases of designing the circular business model.