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Reuters
Toyota joins Redwood Materials’ EV battery recycling initiative
(Reuters) -U.S. startup Redwood Materials Inc on Tuesday said Japan’s Toyota Motor Corp 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 Co and EV battery maker Panasonic Holdings Corp, 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.
