Close this search box.

Getting climate, energy & environment news right.

Tesla Cofounder Aims To Rev Up U.S. EV Battery Market With $3.5 Billion South Carolina Plant

Alan Ohnsman of Forbes reports that Redwood Materials will build a new EV battery plant in South Carolina.

The C3 Take
  • Tesla co-founder JB Straubel has announced that his company, Redwood Materials, will build a $3.5 billion closed loop battery processing plant in South Carolina.
  • The facility will produce 100-gigawatt hours of anodes and cathodes, enough to power 1 million electric vehicles per year, and employ 1,500 people.
  • Redwood Materials is showing how private sector leadership can lead the way in reducing emissions.

“Redwood has raised more than $1 billion from investors, including Ford, Fidelity, Bill Gates’ Breakthrough Energy Ventures and Amazon’s Climate Pledge Fund. It will be seeking additional funds to cover the $4.6 billion it is committing for both the South Carolina campus and its production facilities in Nevada, though Straubel declined to provide details about that effort.” 

Read the full article here.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

Copyright © 2020 Conservative Coalition for Climate Solutions

Subscribe to our exclusive email designed for conservatives who care about climate.

Help us promote free market solutions for climate change.

5 Incredible Ways Economic Freedom Helps the Planet.

Sign up for our newsletter now to get the full list right in your inbox.

Thank you for signing up

Help us promote sensible solutions for both planet and prosperity.

Download Now