redwood

Tesla is reportedly working on compact crossover EV codenamed "Redwood" with production set to start in June 2025, sources familiar with the matter told Reuters. The company reportedly sent requests for quotes for the new model to suppliers last year, predicting a weekly production volume of 10,000 vehicles.The rumor lines up with Elon Musk's comments at a May 2023 shareholder meeting that Tesla was working on two new EV models that could sell up to 5 million a year combined. "Both the design of the products and…

Today Toyota and leading recycling specialist Redwood Materials announced a new expansion that brings the messy and complicated global supply chain of battery components one step closer to a circular battery ecosystem, all on American soil. The two have announced today that Redwood Materials, a US-based company specializing in recycling, refining, and remanufacturing used battery materials, will supply Toyota with cathode material and anode copper foil for its EV lineup. These components represent…

Redwood Materials has recycled e-bike batteries and Tesla batteries. Now, it’s ready to level up a few sizes. The electric vehicle battery recycling and manufacturing venture founded by the former chief technologist of Tesla announced today that it will help decommission and recycle a 4MWh stationary storage substation in Kauai, Hawaii, as part of a massive solar array. The decommissioning recently wrapped and the batteries are now being transported to the company’s facility in north Nevada for recycling. It will be one…

A group of lenders, who claim to collectively own more than 85% of a $1.2 billion term loan taken by Byju’s, has termed the suit filed by the edtech company against their demand for an “accelerated” repayment “meritless”.The group, comprising “21 highly respected global institutional investors”, said it has sought to work “constructively with the company over the past nine months to cure its numerous defaults” and will continue to do so in good faith. “However, in the event Byju’s intentionally remains in default, the…

Redwood Materials’ EV battery recycling pilot program has been going on for a year in California, and today the company shared an update on how things are going. Redwood Materials was founded by JB Straubel, former Tesla CTO and one of Tesla’s five cofounders. The pilot program started a year ago, collecting old EV battery packs from Volvo and Ford. Since then, Redwood has partnered with other automakers, such as Audi and the rest of VW Group, and the company even scored a $2b loan last…

JB Straubel sits down with CNBC's Phil LeBeau at Redwood Materials.Redwood Materials has attained a $2 billion loan commitment from the Department of Energy, the agency announced on Thursday via its loan programs office.The battery-recycling startup will use the funding to build and expand its battery recycling facility outside of Reno, Nevada. The facility takes end-of-life electric vehicle batteries and automotive production scrap, processes these, and churns out raw materials and products that are used to make new EV…

Redwood Materials just got a $2 billion conditional loan from the US Department of Energy to expand its factory near Reno, Nevada, where it will manufacture EV batteries from an increasing amount of recycled content. In a US first, Redwood will produce 100 GWh annually of ultra-thin battery-grade copper foil and cathode-active materials from both new and recycled feedstocks at gigafactory scale. Tesla cofounder JB Straubel founded Redwood Materials in 2017. It has partnerships with Ford…

Battery-recycling startup Redwood Materials Inc. is accelerating its U.S. investment, saying it plans to build a second factory in South Carolina. The $3.5 billion plant will recycle spent lithium-ion batteries and manufacture anode and cathode components, Redwood Materials said—two of the most costly parts of the batteries that power electric vehicles. The company decided to build another plant in the South to better position itself to supply a flurry of battery plants going up to take advantage of the…

Battery recycling specialist Redwood Materials has announced its next expansion in the US, which includes a new battery materials campus in Charleston, South Carolina. As Redwood’s Easternmost facility in the US, it joins the “Battery Belt” corridor growing between Michigan and Georgia. Redwood Materials is a company from Tesla cofounder JB Straubel that specializes in recycling, refining, and remanufacturing used battery materials in order to return them to US battery manufacturers to build new…

Lyft plans to start recycling its e-bike and scooter batters through a newly announced partnership with Redwood Materials, as first reported by The Verge. Lyft owns 12 different municipal bike share programs—like New York City’s Citi Bike and San Francisco’s Bay Wheels—in addition to its scooter program in four cities. As Lyft’s largest microtransport share, Citi Bike alone has 5,000 electric bicycles, according to a report from Bloomberg. Which is a lot of batteries. E-Bike batteries only last a few years, and after that…