Greater use and reuse of electric vehicle batteries is needed for the ongoing electrification of the transport sector towards a net-zero and carbon-low economy. Such battery second-life uses and later recycling requires an ecosystem with actors having reliable battery tracking and equitably sharing usage information. However, existing studies do not prescribe viable solutions to such circular ecosystems. Therefore, this study explores the electric vehicle battery ecosystem's structures, actors, and processes that may enable battery circularity. The study was conducted on one global electric vehicle battery supply chain in the heavy-duty and commercial vehicle sector. It covers all phases of the battery journey. Primary data was collected through interviews and observations, and supported by secondary documentary data. For contribution, while the existing literature on battery circularity largely focuses on technology choices for information transparency, sharing and tracking, our study develops a value model that identifies key considerations for creating a viable electric vehicle battery ecosystem and the challenges that participating actors need to resolve. Practically, the findings demonstrate the importance of actors being adaptive in all parts of EVB circularity development, and it highlights the critical role the OEM has to ensure that equitable value sharing occurs among the various partners.