Redwood received $226 million in taxpayer-funded incentives.
Redwood Materials is locating its new EV battery recycling facility in the “heart of the ‘Battery Belt’”.Redwood Materials, the battery recycling company founded by a former Tesla executive, announced today that it will build a massive $3.5 billion facility in South Carolina.
Those components are not currently manufactured in North America, forcing automakers to source most of the materials needed for electric vehicle batteries from overseas. That has had the effect of creating a 50,000-mile supply chain at a cost of $150 billion by 2030, the company notes. Redwood claims that by recycling EV batteries domestically, it can help drive down emissions and reduce global insecurity, with an eye toward reuse and recovery. The company says its operations will be “100% electric and we won’t use any fossil fuel in our processes .”
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