Toyota Joins Redwood Materials' EV Battery Recycling, Remanufacturing Initiative

Toyota has been building hybrid electric vehicles under the Prius name for more than two decades.

Toyota Joins Redwood Materials' EV Battery Recycling, Remanufacturing Initiative

After service lifespan of EVs, their nickel metal hydride batteries can be recycled

Highlights
  • Redwood Materials has focused initial work at a 175-acre campus in Nevada
  • The company plans to build another complex in southeastern US
  • Redwood is increasing production of anode and cathode components

US startup Redwood Materials on Tuesday said Japan's Toyota Motor has become the latest auto industry giant to join its comprehensive electric vehicle (EV) battery recycling and remanufacturing initiative.

Redwood Materials, whose partners include automaker Ford Motor and EV battery maker Panasonic Holdings, is building a closed-loop battery ecosystem aimed at lowering EV costs by lessening dependence on imported materials while also reducing the environmental impact.

The five-year-old company has focused initial work at a 175-acre campus in northern Nevada, and plans to build another complex in southeastern United States, its chief executive and founder, JB Straubel, said in an interview.

The new facility would be able to supply Toyota's planned $1.3 billion (nearly Rs. 10,000 crore) battery plant in North Carolina, as well as Ford's planned battery plants in Tennessee and Kentucky with SK On, a subsidiary of South Korea's SK Innovation.

Redwood Materials is ramping up production of anode and cathode components to 100 gigawatt-hours by 2025, enough to supply batteries for 1 million EVs a year, then to 500 GWh by 2030, enough to supply 5 million EVs a year or more, said Straubel, a co-founder of Tesla.

Tesla Chief Executive Elon Musk has said the EV maker expects to build up to 20 million EVs a year by 2030, while total global EV production including Tesla could reach as much as 40 million, industry forecasters said.

Straubel said Redwood Materials is having "various discussions" with Tesla, but has no deals to announce yet. Tesla's partners also include Panasonic.

Toyota has been building hybrid electric vehicles under the Prius name for more than two decades. With a car's average lifespan roughly 12 years, some early Prius models will be reaching the end of their useful lives.

Once out of service, their nickel metal hydride batteries can be recycled and materials such as nickel and copper reintroduced into the battery supply chain, where they can supplement raw materials from mines.

© Thomson Reuters 2022


What's most interesting about Apple's new MacBook Pros, M1 Pro and M1 Max silicon, AirPods (3rd Generation), and Apple Music Voice plan? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
Comments

For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.

Dell G15 5525 Gaming Laptop With AMD Ryzen 6000H Processors, up to 16GB RAM Launched in India: Details
Delhi Government Launches Shopping E-Portal Dilli Bazaar, to Go Live in December
Share on Facebook Tweet Snapchat Share Reddit Comment
 
 

Advertisement

Advertisement

© Copyright Red Pixels Ventures Limited 2022. All rights reserved.