US ‘battery belt’ widens with $3.5 billion Redwood Materials plant. redwood ev battery
Redwood’s next battery materials campus will be located in the heart of the “Battery Belt,” just outside of Charleston, South Carolina. Credit: Redwood Materials Inc.
Redwood Materials Inc., started by Tesla co-founder J.B. Straubel, said Wednesday that it will spend $3.5 billion to develop a 600-acre site in Charleston, South Carolina, to manufacture enough critical battery components to build more than a million electric vehicles a year. It’s the second announcement of that size in less than a month, following LG Chem’s plans for a materials plant in Tennessee.
Straubel left Tesla in 2019 in order to address the gap between demand for electric vehicles and the availability of materials needed to make them. Redwood quickly became the biggest lithium-ion battery recycler in the US, before branching out into anode and cathode production in Nevada. The South Carolina factory will perform all of the same work, with recycled materials accounting for about half of the metals that go into anode and cathode production.
Redwood’s other cathode factory, in Nevada, will begin producing material in 2024. In November, LG Chem announced a $3.2 billion cathode factory that will be built in Clarksville, Tennessee, and begin production in 2025. Redwood plans to start construction in South Carolina in the first quarter of 2023 and begin recycling operations by the end of the year. Each of the three new factories plans to produce more than 100,000 tons of cathode annually.
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