The rapid growth of the electric vehicle (EV) industry is driving an unprecedented demand for batteries, underscoring the importance of implementing reverse logistics practices. A shared reverse logistics (SRL), in which multiple entities collaborate to tackle the complexities of managing returned products and end-of-life processes, can play a vital role in ensuring the sustainability of EV reverse logistics. To ensure revenue generation, sustainability, and effective collaboration among stakeholders of an EV shared reverse logistics network, a well-defined business model is essential. However, reviewing litrature reveals that a sustainable business model for EV shared reverse logistics have not been adequately developed. This paper aims to develope a novel business model by emphasizing on the importance of the Triple Bottom Line approach for a SRL within the EV battery sector. The proposed business model offers several key benefits, including addressing the complex challenges of managing product returns in the EV industry, maximizing recaptured value, promoting sustainability, achieving cost-effectiveness, reducing waste, and increasing profitability through efficient management of returned goods and materials. By integrating collaborative efforts across the supply chain components, the model optimizes resources and reduces environmental footprint, addressing the growing concern for sustainable handling and recycling of spent EV batteries. To perform this study, firstly we conducted a literature review on existing closed-loop supply chain EV battery, shared reverse logistics, and business models. Next, we propose a business model for EV shared reverse logistics focusing on sustainability KPIs. The study delves into potential sustainability indicators relevant to the EV battery's reverse supply chain while also highlighting components that can be shared among stakeholders. Our findings emphasize the potential of SRL as an enabler for sustainable growth in the EV battery industry. This work not only emphasizes the significance of innovative sustainable practices but also charts a viable pathway for stakeholders to collectively address the challenges of the end-of-lifeEV battery.