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Tuesday, January 25, 2022

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    Ford partners with, invests $50 million in battery recycling startup

    Ford Motor Co. is partnering with and investing $50 million into a battery recycling startup led by a Tesla co-founder as the Dearborn automaker works to shore up the battery supply chain for a forthcoming wave of electric vehicles.

    Ford and Redwood Materials announced the deal Wednesday and said the two companies will work together “to integrate battery recycling into Ford’s domestic battery strategy.”

    Redwood, which was started by Tesla co-founder JB Straubel and is based in Nevada, claims that its recycling technology can recover, on average, more than 95% of materials such as nickel, cobalt, lithium and copper that are found in EV batteries. Those materials then can be reused. Redwood announced last week that it will produce battery materials, supplying anode copper foil and cathode active materials to battery makers.

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