Ford and Redwood form a “circular” supply chain for EV battery materials, Auto News, ET Auto

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“There is a lot of material in a battery cell that can be reused,” he said. “We spend time with it.”

Ford Motor Co and startup Redwood Materials announced on Wednesday that they are partnering to create a “closed loop” or circular supply chain for EV batteries, from raw materials to recycling.

The aim is to reduce the cost of electric vehicles by reducing dependence on imported materials while reducing the environmental impact of mining and refining battery materials.

Ford and Redwood will work closely with Korean battery maker SK Innovation, which has a joint venture with Ford called BlueOvalSK to manufacture EV battery cells in the United States, said Ford managing director Lisa Drake at a media briefing.

The topic
Redwood, founded in 2017 by former Tesla Inc. manager JB Straubel, recycles battery scrap and materials at facilities in Nevada.

In mid-September, the company announced that it would expand its business to refine these materials into battery components, including cathodes and anodes, with the goal of having enough of these components to equip one million electric vehicles by 2025.

In July, Redwood raised $ 700 million from investors including Amazon.com Inc, Fidelity, T. Rowe Price, and Baillie Gifford. On Wednesday, Straubel said Ford had invested $ 50 million. Redwood is currently valued at $ 3.7 billion by investor website PitchBook.

Redwood has partnerships with battery manufacturers Panasonic in Nevada and Envision AESC in Tennessee and Amazon. The topic of battery life cycle management has become increasingly important in the plans of both vehicle and battery manufacturers.

General Motors Co. President Mark Reuss said at a conference Tuesday that the recycling and reuse of EV battery materials is a critical issue for the auto industry as it accelerates production of electric vehicles.

“There is a lot of material in a battery cell that can be reused,” he said. “We spend time with it.”

GM and battery partner LG Energy Solution announced in May a partnership with battery scrap startup Li-Cycle from Ultium Cells, GM-LGES ‘joint venture building battery plants in Ohio and Tennessee.

Straubel said Redwood plans to start recycling materials from Ford this year with a goal of delivering the first anode material in 2023-2024 and the first cathode material by the middle of the decade.

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