The battery recycling company Redwood Materials announced an investment of $3.5 billion dollars and theto hire at least 1,500 workers for a new plant in South Carolina.
Redwood Materials plans to extract key battery components such as nickel, cobalt, lithium and copper, and reuse them to make electrodes for electric vehiclesthe Carson City, Nevada, company said in a statement.
The plant, which is scheduled to open in 2023, will reduce the costs and emissions of batteries to build them.
It will also reduce reliance on foreign companies, as many components for electric vehicle batteries are currently are manufactured outside of the United StatesRedwood Materials founder and CEO JB Straubel said in a statement.
“South Carolina’s commitment to creating a secure energy future and a competitive landscape for electric vehicle manufacturingbacked by a world-class workforce, fast and efficient logistics, zero-carbon electricity and a phenomenal site, made Redwood a smart investment here,” said Straubel.
JB Strabuel was also a co-founder of the electric vehicle maker Tesla.
The $3.5 billion is a record for investment in South Carolina, said Gov. Henry McMaster, who spent the second half of 2022 announcing various economic development projects. around electric vehicles, batteries and spare parts.
“Our state’s strategic plan to remain a premier destination for automakers and their suppliers as the industry innovates is working,” McMaster said in a statement.
For its part, Redwood Materials indicated that will work with companies such as Panasonic, Volkswagen, Volvo, Proterra and Envision to build their recycled batteries.
The announcement comes just as the US government seeks to strengthen energy independence and endorse President Joe Biden’s goal of making electric vehicles a half of all vehicle sales in the United States by 2030.
Just at the beginning of December, the companies General Motors and LG Energy Solution announced a million-dollar investment to expand their battery plant for electric cars in Tennessee and increase production by more than 40%.
Domestic battery cell production in North America is expected to be crucial for automakers in the coming years to qualify for federal incentives under the Biden administration’s Reduced Inflation Act.
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Source: La Opinion