Ford Motor Co. is investing US$50 million in an upstart electric vehicle battery recycling company as the automaker moves to shore up its battery supply chain. Gerry Broome/AP A Ford logo is seen on signage at Country Ford in Graham, N.C., Tuesday, July 27, 2021. Ford Motor Co. is investing $50 million in an upstart electric vehicle battery recycling company as the automaker moves to bolster its U.S. battery supply chain. (AP Photo/Gerry Broome)The automaker says locally produced anode and cathode materials can drive down battery costs, increase materials supply and cut reliance on imported materials. Ford already has announced plans to build two North American battery factories with Korean partner SK Innovation starting around 2025.

Source: Stuff September 22, 2021 20:15 UTC