Redwood Materials is building a $3.5 billion plant near Reno, Nevada, to make cathode and anode materials for electric vehicle batteries. Redwood MaterialsRedwood Materials, a battery recycling and materials company started by Tesla cofounder JB Straubel, will spend $3.5 billion through the end of the decade on a plant in Nevada making cathodes and other essential components for electric vehicle batteries. The Carson City, Nevada-based company had said last year it would build a $1 billion facility to process cathode materials, without identifying a location. The new plant will produce enough cathode material to supply 100-gigawatt hours of batteries annually by 2025. Panasonic, Tesla’s main battery partner, will be a primary customer for anode material Redwood is also making.

Source: Forbes July 26, 2022 12:46 UTC