Alan Ohnsman writes in Forbes about VW and Audi’s plans to work with Redwood Materials.
- Redwood Materials is a battery recycling and processing company.
- In its first year of operations Redwood Materials handled over 10,000 tons of materials to produce new batteries.
- The company is planning to build a $1 billion plant and will process close to 6 gigawatt hours worth of batteries this year.
- Partnering with Redwood Materials will help VW and Audi to reach their EV goals with a smaller environmental footprint.
“The global surge in demand for lithium-ion batteries to power electric cars and trucks is stressing the supply chain for internationally sourced commodity minerals like lithium, nickel and cobalt, all of which are trading at or near record-high levels. Currently, lithium costs nearly $75,000 a ton, according to Trading Economics, while nickel runs about $22,000 per ton. Redwood believes large-scale battery recycling infrastructure is the best way to manage tight supplies.”
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.
