In one of the first moves to become more than an electric vehicle (EV) battery recycler, Redwood Materials has announced it is partnering with Korean battery materials maker L&F Co.
The announcement comes one month after Redwood announced they will soon begin construction of a new EV battery materials factory in the US.
The multi-year deal with L&F Co will allow Redwood to use their design and manufacturing technology at the new factory. Through the partnership, Redwood will produce enough battery cathodes to supply up to 1 million EVs (100 GWh) per year.
That number is expected to increase to 5 million, or 500 GWh by 2030.
According to a report from Reuters, the deal will be exclusive to North America and Europe, where Redwood plans to build another factory by 2023.
The company is expected to announce the location for the U.S. based facility in 2022. They currently have three facilities in Nevada, but are reportedly seeking a location further east for the new factory.