Toyota joins Redwood Materials’ EV battery recycling initiative

The Toyota brand is pictured on the forty third Bangkok Worldwide Motor Present, in Bangkok, Thailand, March 22, 2022. REUTERS/Athit Perawongmetha

June 21 (Reuters) – U.S. startup Redwood Supplies Inc on Tuesday stated Japan’s Toyota Motor Corp (7203.T) has develop into the newest auto business big to affix its complete electrical automobile (EV) battery recycling and remanufacturing initiative.

Redwood Supplies, whose companions embrace automaker Ford Motor Co (F.N) and EV battery maker Panasonic Holdings Corp (6752.T), is constructing a closed-loop battery ecosystem geared toward reducing EV prices by lessening dependence on imported supplies whereas additionally lowering the environmental affect. learn extra

The five-year-old firm has targeted preliminary work at a 175-acre campus in northern Nevada, and plans to construct one other complicated in southeastern United States, its chief govt and founder, JB Straubel, stated in an interview.

The brand new facility would be capable to provide Toyota’s deliberate $1.3 billion battery plant in North Carolina, in addition to Ford’s deliberate battery vegetation in Tennessee and Kentucky with SK On, a subsidiary of South Korea’s SK Innovation Co Ltd (096770.KS).

Redwood Supplies is ramping up manufacturing of anode and cathode parts to 100 gigawatt-hours by 2025, sufficient to produce batteries for 1 million EVs a 12 months, then to 500 GWh by 2030, sufficient to produce 5 million EVs a 12 months or extra, stated Straubel, a co-founder of Tesla Inc (TSLA.O). learn extra

Tesla Chief Govt Elon Musk has stated the EV maker expects to construct as much as 20 million EVs a 12 months by 2030, whereas complete world EV manufacturing together with Tesla may attain as a lot as 40 million, business forecasters stated.

Straubel stated Redwood Supplies is having “numerous discussions” with Tesla, however has no offers to announce but. Tesla’s companions additionally embrace Panasonic. learn extra

Toyota has been constructing hybrid electrical automobiles below the Prius identify for greater than twenty years. With a automobile’s common lifespan roughly 12 years, some early Prius fashions will probably be reaching the tip of their helpful lives.

As soon as out of service, their nickel metallic hydride batteries could be recycled and supplies comparable to nickel and copper reintroduced into the battery provide chain, the place they’ll complement uncooked supplies from mines.

Reporting by Paul Lienert in Detroit; Modifying by Christopher Cushing and Louise Heavens

: .