Nevada-based materials specialist, Redwood Materials, has secured a long-term contract to provide Toyota Motor with recycled materials for the automaker’s upcoming electric vehicle (EV) battery plant in North Carolina. As part of the agreement, Redwood will remanufacture EV battery components using materials provided by Toyota, which are sourced from end-of-life vehicles, focusing primarily on hybrid-electric models like the Prius.
While specific details regarding the value and duration of the contract have not been disclosed, Redwood’s CEO, J.B. Straubel – also a co-founder and former executive at Tesla – expressed confidence that the partnership will support the company’s growth and expansion alongside Toyota’s future requirements. He also predicted that Toyota will continue to expand its battery plant in North Carolina, potentially opening up opportunities for further collaboration.
Redwood Materials is a leading battery recycler globally, aiming to establish a closed-loop battery ecosystem that reduces EV costs by decreasing reliance on imported materials and mitigating environmental impact. The company’s goal is to achieve an annual battery component production capacity of 100 gigawatt-hours (GWh) in the United States, which could power over a million EVs annually. There is also a future option to expand the capacity to 500 GWh.
In terms of specific battery components, Redwood will supply Toyota with remanufactured cathode active material (made from recycled lithium, nickel, and cobalt) and anode foil (made from recycled copper). These two components represent a significant portion of the current costs associated with lithium-ion cells.
Redwood Materials has previously announced recycling partnerships with companies like Panasonic, Volkswagen, and Ford. Additionally, the company is selling remanufactured battery components to Panasonic, which operates an EV battery plant alongside Tesla in Nevada.
Frequently Asked Questions (FAQ)
1. What is Redwood Materials?
Redwood Materials is a materials specialist and a leading battery recycler, focused on developing a closed-loop battery ecosystem that reduces environmental impact and lowers costs for electric vehicles.
2. What is the nature of the partnership between Redwood Materials and Toyota?
Redwood Materials has signed a long-term contract to supply Toyota Motor with recycled materials for the automaker’s electric vehicle battery plant in North Carolina. Redwood will remanufacture EV battery components using materials sourced from Toyota and recycled from end-of-life vehicles.
3. What are the battery components that Redwood Materials will supply to Toyota?
Redwood will provide Toyota with remanufactured cathode active material, which is made from recycled lithium, nickel, and cobalt, as well as anode foil made from recycled copper. These components are vital in the production of lithium-ion cells for electric vehicles.
4. What are the objectives of Redwood’s closed-loop battery ecosystem?
Redwood Materials aims to reduce the costs of electric vehicles by decreasing reliance on imported materials and minimizing the environmental impact of battery production. The company seeks to achieve this by establishing a closed-loop system that promotes recycling and reusing materials in battery manufacturing.
5. Which other companies has Redwood Materials partnered with?
Redwood has previously announced recycling partnerships with companies such as Panasonic, Volkswagen, and Ford. The company is also supplying remanufactured battery components to Panasonic, which operates an EV battery plant alongside Tesla in Nevada.