- September 23, 2021
Ford contributs $50 million in an EV battery recycling organization
Ford has reported an organization with Redwood Materials to reuse electric vehicle batteries. The automaker is putting $50 million in…
Ford has reported an organization with Redwood Materials to reuse electric vehicle batteries. The automaker is putting $50 million in the startup, whose prime supporter and CEO is Tesla’s former chief technology officer JB Straubel. Redwood, which likewise reuses batteries for e-bicycle organization Specialized, will utilize the assets to grow its manufacturing facilities.
The organizations say the deal will make EVs more sustainable and moderate by bringing the battery supply chain nearer to home. They intend to expand battery production in the US, something the Biden organization is hoping to do to decrease reliance on imports from nations like China.
Reusing batteries in a shut circle will assist with decreasing expenses and advantage the climate, as Ford will depend less on imports and the mining of crude materials. Redwood claims it can recuperate 95% of components like nickel, cobalt, lithium and copper on normal utilizing its reusing innovation. The organization reuses those materials to make anode copper foil and cathode dynamic materials for new batteries.
Ford declared the monetary support as a feature of its arrangement to put more than $30 billion in zap before the finish of 2025. The organization as of late said it would spend another $250 million to increase production of the sought after F-150 Lightning EV.
In May, Ford uncovered designs to make EV batteries at BlueOvalSK plants in North America by the center of this decade. BlueOvalSK is a joint endeavor Ford intends to shape with SK Innovation, forthcoming endorsement.