Toyota Joins Redwood Materials for Electric Car Battery Remanufacturing Project

Redwood Materials Incorporation states that Toyota Motor Corporation Japan is joining in on a comprehensive Electric Vehicle (EV) battery recycling and remanufacturing initiative.

Quoted by Antara news agency from Reuters on Wednesday (22/6/2022), Redwood Materials Incorporation is a start-up from the United States with partners with giant companies.

These include carmaker Ford Motor Company, and EV battery maker Panasonic Holdings Corporation.

Toyota Joins Redwood Materials for Electric Car Battery Remanufacturing Project

Together with the two companies, Redwood Materials is building a closed-loop battery ecosystem that aims to cut the cost of electric cars. This is done by reducing dependence on imported materials while reducing the environmental impact.

The five-year-old company focused early work on a 175-acre area in northern Nevada. The plan is to build another complex in the southeastern United States.

Founder and Chief Executive Officer (CEO) of Redwood Materials Incorporation, JB Straubel is the co-founder of electric carmaker Tesla Incorporation.

In an interview quoted by Reuters, he described a new Redwood Materials facility capable of supplying US$1.3 billion worth of batteries to Toyota's North Carolina plant.

As well as the planned battery plants of Ford Motor Company and SK On in Tennessee and Kentucky. SK On is a subsidiary of South Korea's SK Innovation Co Ltd.

Redwood Materials is increasing production of anode and cathode components to 100 gigawatt-hours by 2025, enough to supply batteries of 1 million EV per year.

Then to 500 GWh in 2030, enough to supply 5 million EV per year or more.

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