The partnership will initially focus on monitoring, recovering and recycling aging batteries from Toyota’s Prius and other hybrid-electric vehicles at Redwood’s facilities in northern Nevada.
Redwood Materials cofounder and CEO JB Straubel speaks during the 2022 CERAWeek conference in Houston on March 10, 2022.Redwood Materials, a battery recycler created by Tesla cofounder and former tech chief JB Straubel, is adding Toyota to a growing list of global automakers it’s working with to create a closed-loop supply chain for materials needed to power electric vehicles.
“There are a number of the same team members on the Toyota North American” side involved in the Redwood project with who Straubel worked over a decade ago, he said. “There’s no direct connection between the two projects, but it’s feeling like a surprisingly small world, especially related to EVs.”Since 2000 Toyota has sold about 2 million Prius models in the U.S. and hundreds of thousands of other Toyota and Lexus hybrids.
Redwood, which has raised over $800 million, has previously said it will be working with Ford and Volvo Cars, collecting and recycling their aging EV packs, and also works with battery giant Panasonic and lithium-ion cell maker Envision AESC.
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