Ford invests in battery recycling company run by ex-Tesla exec

The plan is for the two companies to partner and find new ways to use old EV batteries

Ford has jumped into a new partnership with the battery recycling startup Redwood Materials, which is known for being run by Tesla’s ex-chief technology officer, JB Straubel.

The startup also works with Nissan and the bike company Specialized to recycle batteries from those two companies. The Ford partnership is looking to go a little deeper.

The automaker has invested $50 million into the battery recycler and is hoping to partner to find new ways to not only tear down and recycle EV batteries but to re-purpose them as well. On top of all that, the company is also going to help Ford make batteries out of salvaged scrap lithium, nickel, cobalt and copper.

It’s unclear if this partnership will be a big business for Ford in the future. Still, the more EV-related companies that the automaker associates with, the more it will likely learn about EVs as it moves further into the space over the next few years.

This is likely a smart move for Ford since it’s expected that everything related to EV batteries will boom in the next few years.

Source: The Verge