As the adoption of electric vehicles (EVs) scales up around the world, the management of end-of-life batteries has emerged as a significant challenge - and chance - towards more sustainable use of resources. Second-life applications, which refer to the reuse of EV batteries for stationary energy storage systems or other applications, can provide both environmental and economic benefits. However, while theoretically viable, the development and deployment of second-life battery supply chains are limited due to a multiplicity of technical, regulatory, economic, and social considerations overall. This paper provides a holistic assessment of the main barriers and drivers affecting the growth of second-life EV battery supply chains. The study builds on a comprehensive literature review, and initial industry input, to present key challenges including: the lack of standard testing and evaluation protocols, uncertainty about used battery performance, regulatory frameworks unaligned with circular economy principles, and high costs of collection and repurposing. The authors identify key drivers for the adoption of second-life batteries including: increasing demand for stationary storage, developments in battery diagnostics, the growth of the circular economy agenda and supporting policies. By representing the barriers and drivers, this study presents a cohesive and comprehensive starting point for future policy and strategic decision making relating to the supply chain. The study will also provide the authors to develop priorities for action and identify next steps to encourage collaboration across the sector.