9/22, 5:07 PM (Source: TeleTrader)
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Ford, Redwood Materials announce partnership

Ford Motor Co. and Redwood Materials said on Wednesday that they will work together to develop a closed-loop recycling supply chain for electric vehicle batteries.

Using Redwood's recycling technology, which can on average recover more than 95% of battery elements like lithium and copper, Ford hopes to drive down EV-making costs and reducing environmental damage caused by mining.

"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," Ford CEO Jim Farley said.

Breaking the News / MD