A Life Cycle Assessment (LCA) quantifies the environmental impacts during the life of a product from cradle to grave. It evaluates energy use, material flow, and emissions at each stage of life. This report addresses the challenges and potential solutions related to the surge in electric vehicle (EV) batteries in the United States amidst the EV market’s exponential growth. It focuses on the environmental and economic implications of disposal as well as the recycling of lithium-ion batteries (LIBs). With millions of EVs sold in the past decade, this research highlights the necessity of efficient recycling methods to mitigate environmental damage from battery production and disposal. Utilizing a Life Cycle Assessment (LCA) and Life Cycle Cost Assessment (LCCA), this research compares emissions and costs between new and recycled batteries by employing software tools such as SimaPro V7 and GREET V2. The findings indicate that recycling batteries produces a significantly lower environmental impact than manufacturing new units from new materials and is economically viable as well. This research also emphasizes the importance of preparing for the upcoming influx of used EV batteries and provides suggestions for future research to optimize the disposal and recycling of EV batteries.