Ford Invested $50 Million in Electric Vehicle Battery Recycling
Ford Motor Company and Redwood Materials are teaming up to recycle electric vehicle batteries. Ford has invested $30 billion in the electric vehicle revolution through 2025. Now, Ford is investing $50 million in Redwood to help ramp up the brand’s manufacturing footprint.
Ford and Redwood Materials are closing the loop on electirc vehicle battery recycling
Ford announced this week that Ford Motor Company and Redwood Materials would be joining forces. Redwood is a battery materials company looking to make electric vehicles more sustainable and affordable. Keeping the process in the U.S. will localize the supply chain and eventually lower the cost of batteries. Also, the new collaboration will be “creating recycling options for end-of-life vehicles, ramping lithium-ion recycling, and increasing U.S. battery production.”
Closing the loop helps ensure that the materials used in EV battery production can be reused to bring costs down. The process also helps reduce the need for importing and mining materials.
Ford hopes to recycle more than 95% of materials used in the electirc vehicle battery process
This is a significant step in the process of moving to electric vehicles, not just for Ford. The process of making EV batteries is costly right now. This new joint venture will be beneficial for all potential EV buyers down the line.
“Ford and Redwood’s goal is to make electric vehicles more sustainable, drive down the cost for batteries, and ultimately help make electric vehicles accessible and affordable for more Americans.”Ford Motor Company
In the press release, Ford says the company hopes to recycle more than 95% of the elements used. Such elements include nickel, cobalt, lithium, and copper. Redwood announced last week that it would supply “anode copper foil and active cathode materials” to companies within the country. Lisa Drake, Ford North America’s COO, said, “We are designing our battery supply chain to create a fully closed-loop lifecycle to drive down the cost of electric vehicles via a reliable U.S. materials supply chain.”
This process will be good for consumers
Ford made a good move bringing on JB Straubel and Redwood Materials. Similarly, Straubel helped found Tesla and is the former CTO for the EV company. Redwood Materials will be handing the recycling of Tesla’s electric vehicle batteries as well.
Hopefully, this will jumpstart the process of driving the cost of electric vehicles down. Ford has previously announced BlueOvalSK battery plants in the U.S. are in the plans for the next few years. If the automaker can create a domestic supply chain with recycled materials, the process will be cheaper and more sustainable. The BlueOvalSK brand is a joint venture between Ford and SK Innovation.
This is a big step in the electric vehicle battery recycling process. Good luck to Ford and Redwood Materials on the next part of this joint venture.