Ford and Redwood Material Collaborate to Build out Battery Recycling and U.S. Supply Chain for EV | Financial Buzz

Ford and Redwood Material Collaborate to Build out Battery Recycling and U.S. Supply Chain for EV

Ford Motor Company (NYSE: F) and Redwood Materials has reported a collaboration to build out battery recycling and a domestic battery supply chain for electric vehicles.  The goal of the collaboration is to make electric vehicles more sustainable, drive down battery costs and help make electric vehicles accessible and affordable for more Americans. 

“Ford is making electric vehicles more accessible and affordable through products like the all-electric F-150 Lightning, Mustang Mach-E and E-Transit, and much more to come,” said Jim Farley, Ford president and CEO. “Our partnership with Redwood Materials will be critical to our plan to build electric vehicles at scale in America, at the lowest possible cost and with a zero-waste approach.”  “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,” said Lisa Drake, Ford’s North America chief operating officer. “This approach will help ensure valuable materials in end-of-life products re-enter the supply chain and do not wind up in landfills, reducing our reliance on the existing commodities supply chain that will be quickly overwhelmed by industry demand.”

Redwood Materials will create a circular supply chain for batteries as it helps partners across the electric vehicle and clean energy industries by providing processes, paths and technologies to recycle and remanufacture lithium ion batteries.  “Increasing our nation’s production of batteries and their materials through domestic recycling can serve as a key enabler to improve the environmental footprint of U.S. manufacturing of lithium-ion batteries, decrease cost and, in turn, drive up domestic adoption of electric vehicles,” said Straubel, Redwood Materials CEO. “Redwood and Ford share an understanding that to truly make electric vehicles sustainable and affordable, we need to localize the existing complex and expensive supply chain network, create pathways for end-of-life vehicles, ramp lithium-ion recycling and increase battery production, all here in America.”

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