Redwood Materials, a Nevada-based materials specialist and one of the world’s leading battery recyclers, has entered into a long-term contract with Toyota Motor. Under the agreement, Redwood will supply Toyota’s $13.9 billion electric vehicle (EV) battery plant in North Carolina with recycled materials for the remanufacturing of EV battery components.
The materials for the batteries will be sourced from end-of-life vehicles, primarily hybrid-electric models like the Prius, as well as from Toyota’s own supply. The exact value and timing of the agreement have not been disclosed.
Redwood’s Chief Executive, J.B. Straubel, who is also a co-founder and director of Tesla, stated that this partnership will enable Redwood to grow and expand alongside Toyota’s future needs. He expressed confidence in Toyota’s plans to continue expanding its battery plants, and Redwood aims to be a long-term solution for the automaker.
Redwood is committed to building a closed-loop, or circular, battery ecosystem that aims to reduce EV costs and lower dependence on imported materials. The company plans to establish an annual battery component production capacity of 100 gigawatt-hours (GWh) in the United States, which would be sufficient to supply over 1 million EVs annually. It has the option to expand the capacity to 500 GWh in the future.
Key components of the remanufactured battery materials include cathode active material made from recycled lithium, nickel, and cobalt, as well as anode foil made from recycled copper. These components account for a majority of the cost of lithium-ion cells used in EV batteries.
Redwood will supply battery components to Toyota from its facility in Sparks, Nevada, and in the future from its new $3.5 billion facility being constructed near Charleston, South Carolina. The company has previously announced recycling partnerships with Panasonic, Volkswagen, Ford, and others.
The collaboration between Redwood Materials and Toyota represents a significant step towards a more sustainable and cost-efficient EV battery production process.
FAQ
1. What is Redwood Materials’ partnership with Toyota about?
Redwood Materials has signed a long-term contract to supply Toyota with recycled materials for the automaker’s North Carolina electric vehicle battery plant. These recycled materials will be used in the remanufacturing of EV battery components.
2. What type of vehicles are the recycled materials sourced from?
The recycled materials are primarily sourced from end-of-life vehicles, specifically hybrid-electric models like the Prius. Toyota will also supply materials for the batteries.
3. What are the key components of the remanufactured battery materials?
The remanufactured battery materials include cathode active material made from recycled lithium, nickel, and cobalt, as well as anode foil made from recycled copper. These components are essential in lithium-ion cells used in EV batteries.
4. Where will Redwood Materials supply battery components to Toyota from?
Redwood will initially supply battery components from its facility in Sparks, Nevada, and eventually from its new facility near Charleston, South Carolina.
5. What is Redwood Materials’ goal for its annual battery component production capacity?
Redwood aims to establish an annual battery component production capacity of 100 gigawatt-hours in the United States, which can supply over 1 million EVs per year. The company has the option to expand the capacity to 500 GWh in the future.