Toyota to Collaborate with Redwood Materials on Closed-Loop Sustainable Electrified Vehicle Battery Ecosystem | MarketScreener

PLANO, TX and CARSON CITY, Nevada.Toyota Motor North America (Toyota), as part of its commitment to reduce its environmental footprint year after year and achieve carbon neutrality by 2050, is on a mission to create a sustainable, closed-loop battery ecosystem for its electrified powertrains. This mission not only focuses on collecting, testing and recycling batteries into raw materials to create a sustainable supply chain, but also aims to develop second-life opportunities for refurbished and reused batteries. Toyota hybrid electric vehicle batteries by leveraging battery health screening tools and leveraging its vehicle data.

In connection with these objectives, Toyota and Redwood Materials (Redwood) will explore a series of end-of-life battery solutions for Toyota proposed battery ecosystem. Initially, this collaboration will focus on the collection, testing and recycling of Toyota hybrid electric vehicle batteries. Companies will then look to expand into other areas such as battery health screening and data management, refurbishment and lifelong battery material sourcing. North America.

“We are excited to work with Redwood Materials to identify solutions for our end-of-life electrified powertrains that contribute to our vision to create a circular and sustainable battery ecosystem,” said Christopher YangGroup Vice President of Business Development at Toyota. “We are committed to developing sustainable solutions that enable our batteries to provide value beyond the initial life cycle in an electrified vehicle. It also contributes to our carbon neutral goals and our mission to build a more sustainable world for all.

Redwood Materials reduces the environmental footprint and cost of lithium-ion batteries by providing large-scale sources of household anode and cathode materials produced from recycled batteries. Redwood receives over ~6 GWh of end-of-life batteries per year for recycling, which are then refined and remanufactured into critical battery materials. The company plans to increase production of anode and cathode components in the United States to 100 GWh per year by 2025, enough to produce more than one million electric vehicles per year. Together, Toyota and Redwood will explore ways to seamlessly integrate battery recycling through home manufacturing of battery materials into Toyota battery production strategy, starting with North America.

Toyota helped pave the way for clean transportation with the introduction of the Toyota Prius over 20 years ago. Their commitment to not only sell millions of electrified vehicles this decade, but to ensure their circularity well into the future is a critical step for electrification,” said JB Straubel, Founder and CEO of Redwood Materials. ‘Sequoia and Toyota a shared vision to reduce the environmental footprint and the cost of transportation will continue to accelerate adoption and access to electric vehicles.

Toyota production plans include new and increased production of automotive batteries in United States. Recently Toyota announced an investment of $1.29 billion in a new North American battery plant, Toyota Battery Manufacturing, North Carolina (TBMNC). When complete, TBMNC is expected to produce batteries for 1.2 million electrified vehicles per year. Toyota plans to sell eight million electrified vehicles worldwide by 2030 and invest $70 billion in their development.

About Toyota

Toyota (NYSE:TM) has been part of the cultural fabric of WE for more than 60 years, and is committed to advancing next-generation sustainable mobility through our Toyota and Lexus, as well as our more than 1,500 dealerships.

Toyota directly employs more than 39,000 people in the WE who have helped design, engineer and assemble nearly 32 million cars and trucks at our nine manufacturing plants. By 2025, Toyota 10th plant in North Carolina will start manufacturing automotive batteries for electrified vehicles. With more electrified vehicles on the road than any other automaker, a quarter of the company’s U.S. sales in 2021 were electrified.

To help inspire the next generation for a career in STEM fields, including mobility, Toyota launched its Virtual Education Center on www.TourToyota.com with an immersive experience and the ability to virtually visit many of our WE manufacturing facilities. The hub also includes a series of free STEM-based courses and programs through Toyota USA Foundation partners, virtual field trips and more. For more information on Toyotavisit www.ToyotaNewsroom.com.

About Redwood Materials

Redwood Materials is creating a circular supply chain to reduce the environmental footprint and cost of the lithium-ion batteries, electric vehicles and sustainable energy storage systems they power. Founded by JB Straubel, the NevadaThe New York-based company offers large-scale sources of household anode and cathode materials produced from recycled batteries. Redwood receives over ~6 GWh of end-of-life batteries per year for recycling, which are then refined and remanufactured into critical battery materials. The company plans to increase production of anode and cathode components in the United States to 100 GWh per year by 2025, enough to produce more than one million electric vehicles per year.

Media Contacts

Toyota Motor North America

Josh Burns

Joshua.Burns@toyota.com

redwood materials

Alexis Georgeson

alexis@redwoodmaterials.com

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