Battery recycling is critical to moving the EV revolution forward and making every electric car a sustainable transportation choice.
Under the deal, the new EV battery recycling collaboration will also integrate prototype batteries from Volkswagen’s research facilities such as the Battery Engineering Lab in Chattanooga. It has also expanded into the battery materials production business.
The company announced plans in September 2021 to build a $2 billion factory that will produce cathodes and anode foils up to a projected volume of 100 gigawatt-hour per year’s worth of materials — enough for one million electric car batteries — by 2025. In January, Panasonic said Redwood will start supplying it with, a critical component of the anode side of a battery cell.
The deal with Volkswagen of America and Audi further expands Redwood’s market share in North America. Volkswagen of America and Audi didn’t disclose what volume of batteries they will supply to Redwood. If the automakers hit their EV targets, it promises to provide a significant bump in its business, says“The transition to electric transportation and clean energy is coming and the batteries powering these technologies present an incredible opportunity.
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