In this article

Lithium-ion batteries are everywhere — in phones, laptops, tablets, cameras and increasingly cars. Demand for lithium-ion batteries has risen sharply in the past five years and is expected to grow from a $44.2 billion market in 2020 to a $94.4 billion market by 2025, mostly due to the boom in electric cars, according to MarketsandMarkets. And a shortage of lithium-ion batteries is looming in the U.S.

Former Tesla CTO and the mastermind behind many of Tesla’s core technologies, JB Straubel, started Redwood Materials in 2017 to help address the need for more raw materials and to solve the problem of e-waste. The company recycles end-of-life batteries and then supplies battery makers and auto companies with raw materials in short supply as EV production surges around the world. 

Straubel gave CNBC an inside look at its first recycling facility in Carson City, Nevada. Watch the video to learn why battery recycling will be an essential part in making EV production more sustainable.

You May Also Like
Apple to Continue Releasing iOS 17 Security Updates After iOS 18 Rolls Out: Report

Apple to Continue Releasing iOS 17 Security Updates After iOS 18 Rolls Out: Report

Apple announced that the stable version of iOS 18 will be rolled…

Musk says Tesla’s factories in Berlin and Texas are ‘gigantic money furnaces’

In this article TSLA “The past two years have been an absolutely…
Snapdragon Summit 2024 Dates Confirmed; Snapdragon 8 Gen 4 Chipset Expected

Snapdragon Summit 2024 Dates Confirmed; Snapdragon 8 Gen 4 Chipset Expected

Snapdragon Summit 2024 dates were confirmed by Qualcomm on Thursday. The event…

Jack Dorsey’s Square changes corporate name to Block

In this article HRB Jack Dorsey (L), CEO of Square and CEO…