Tesla’s entry into the automobile industry with electric vehicles marked the beginning of an era. Major automakers following Tesla, in turn, introduced their own electric vehicles. Batteries are very important for electric cars and Ford has plans for it. EV (Electric Vehicle) batteries are made for electric vehicles and are very costly, so it’s important to convert old EV batteries.
Ford teams up with the company founded by Tesla’s ex-manager to convert legacy EV batteries
Ford has signed with Redwood Materials, led by former Tesla chief technology officer JB Straubel. The important detail here is that Redwood Materials is still at the Startup level. The two companies also plan to use this new partnership to help build the battery supply chain in the US.
Redwood Materials went on a $700 million investor tour, and Ford made a $50 million investment in the company during this round. Ford is not the first customer for the company, followed by e-bike batteries from Nissan Specialized.
Besides all these developments, Ford and Redwood Materials aim to integrate more deeply than a recycling partnership. Straubel’s initiative will work with Ford, from helping to process scrap materials to recycling for worn batteries with adequate capacity. In addition, Redwood Materials will enable Ford to manufacture new batteries from salvaged lithium, nickel and cobalt batteries.
Ford is more committed to electric vehicles than ever before. It launched the Mustang Mach-E earlier this year, and it is stated that there will be an all-electric version of the F-150 coming in 2022.
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