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Electric Vehicles

Tesla Co-Founder's Recycling Startup Is Building $3.5 Billion Battery-Material Plant

  • Ex-Tesla executive Straubel is behind the factory in Nevada
  • Electric vehicles are important part of decarbonization push
JB Straubel
JB StraubelPhotographer: Aaron M. Sprecher/Bloomberg

Redwood Materials Inc., run by Tesla Inc.’s former chief technology officer JB Straubel, is building a $3.5 billion factory in Nevada to produce battery components to power electric vehicles.

Redwood is building the factory outside Reno to make material for anodes and cathodes, key components for electric-vehicle batteries, according to company spokeswoman Alexis Georgeson. EVs are an important part of the push to decarbonize the transportation sector and avoid the worst effects of climate change.