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Ford invests $50 million in EV battery recycling company Redwood Affords

Ford said Redwood can recover about 95% of precious metals in EV batteries like nickel, cobalt and copper to be used again in manufacturing EV batteries. File Photo by Brian Kersey/UPI

Ford acknowledged Redwood can get better about 95% of precious metals in EV batteries esteem nickel, cobalt and copper to be worn once more in manufacturing EV batteries. File Describe by Brian Kersey/UPI | License Describe

Sept. 22 (UPI) — Automaker Ford launched on Wednesday that this is able to presumably maybe invest $50 million in an electrical car battery recycling company that used to be created by a archaic Tesla Motors govt.

Ford launched Wednesday that Redwood Affords — a startup trot by archaic Tesla chief technology officer JB Straubel — will recycle its electrical car batteries and fabricate a closed-loop provide chain within the United States.

The carmaker acknowledged or not it is investing in Redwood Affords, a Nevada-basically based company based by archaic Tesla govt J.B. Straubel.

Ford acknowledged Redwood can get better about 95% of precious metals in EV batteries esteem nickel, cobalt and copper to be worn once more in manufacturing EV batteries.

Straubel acknowledged the partnership can decrease funds and abet force up adoption of electrical vehicles within the United States.

“We’re designing our battery provide chain to provide an fully closed-loop lifestyles cycle to force down the price of electrical vehicles via a reliable U.S. presents provide chain,” Lisa Drake, Ford North American chief operating officer, acknowledged in an announcement.

Ford acknowledged the take care of Redwood is half of efforts to invest $30 billion in U.S. car electrification by 2025. Final week, the automaker launched hundreds of latest jobs to ranking its electrical F-150 Lightning pickup. Ford moreover has plans to manufacture batteries with South Korea’s SK Innovation.

Thoroughly different Redwood Affords customers consist of Nissan, e-bike company In fact unbiased accurate and Panasonic.

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