In this paper, the environmental and economic impacts of the life cycle of an advanced lithium based energy storage system (ESS) for a battery electric vehicle are assessed. The methodology followed to perform the study is a Multiregional Input–Output (MRIO) analysis, with a world IO table that combines detailed information on national production activities and international trade data for 40 countries and a region called Rest of the World. The life cycle stages considered in the study are manufacturing, use and recycling. The functional unit is one ESS with a 150,000 km lifetime. The results of the MRIO analysis show the stimulation that the life cycle of the EES has in the economy, in terms of production of goods and services. The manufacturing is the life cycle stage with the highest environmental load for all the impact categories assessed. The geographical resolution of the results show the relevance that some countries may have in the environmental performance of the assessed product even if they are not directly involved in any of the stages of the life cycle, proving the significance of the indirect effects.