Redwood Materials, a leading battery materials company, along with Ford Motor Company, are working together to bring affordable electric vehicles to Americans by localizing the complex supply chain network and providing recycling options for old cars.
They are closing the loop guarantees that valuable materials used in battery manufacturing are recycled and then utilized again to minimize costs and decrease dependence on imports and raw material extraction to make battery electric cars more accessible, cheap, and sustainable for more Americans. Ford has committed $50 million in Redwood as part of its goal to spend over $30 billion in electrification by 2025 and to develop their joint commercial prospects further.
With anode copper foil and cathode active material supplies to U.S. partners, Redwood has said that it can manufacture essential battery materials. Ford’s commitment to reducing the environmental effect of battery manufacture and ramping up electric car production in the United States is bolstered by the availability of these two materials produced locally.
A prolonged semiconductor shortage, which began late last year and has now reduced new-vehicle inventories to record lows, has resulted in a one-third drop in Ford Motor Co.’s August sales in the United States over the prior year.