Redwood Materials, a battery recycling and materials company founded by Tesla co-founder JB Straubel, will spend $
manufacturing cathodes and other essential components for electric vehicle batteries in Nevada by the end of the decade.
I plan to spend it. This is the first such facility in the United States and is initially capable of supplying materials to one million electric vehicles annually.
Carson City, a Nevada-based company, said last year it would build a
billion facility to process cathode materials at any location.
Spokesman Alexis Georgeson said he had begun construction of the first facility of this type on
acres near a recycling facility near Tesla's Giga Factory in Spark, Nevada.
The new facility will produce enough cathode material to power 100GWh of batteries annually by 2025.
According to Georgeson, Redwood will open up more U.S. materials in the coming years, creating the first large-scale cathode manufacturing business in the U.S.
and eventually producing enough material for batteries up to
GWh. intend to do something.
So far, it has raised about $
billion and refused to comment on where the additional funding comes from.
Panasonic, Tesla's leading battery partner, will be a major customer of anode materials that Redwood also manufactures.
"This year we will start producing copper foil for the anode and cathode in
and increase to 100 GWh for both by 2025," she said.
"Neither of these components are manufactured in the United States today and make up almost the entire bill of materials sent to battery cell plants."