Redwood is adding Toyota to a growing list of global automakers with which it’s working to recycle and refurbish batteries from the Prius and other hybrid models.
Redwood Materials cofounder and CEO JB Straubel speaks during the 2022 CERAWeek conference in Houston on March 10, 2022.Redwood Materials, a battery recycler created by Tesla cofounder and former tech chief JB Straubel, is adding Toyota to a growing list of global automakers it’s working with to create a closed-loop supply chain for materials needed to power electric vehicles.
“There are a number of the same team members on the Toyota North American” side involved in the Redwood project with who Straubel worked over a decade ago, he said. “There’s no direct connection between the two projects, but it’s feeling like a surprisingly small world, especially related to EVs.”Since 2000 Toyota has sold about 2 million Prius models in the U.S. and hundreds of thousands of other Toyota and Lexus hybrids.
Redwood, which has raised over $800 million, has previously said it will be working with Ford and Volvo Cars, collecting and recycling their aging EV packs, and also works with battery giant Panasonic and lithium-ion cell maker Envision AESC.
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