US ‘Battery Belt’ Widens With $3.5 Billion Redwood Materials Plant
Tesla co-founder J.B. Straubel is bringing the EV battery supply chain to South Carolina with what may be the biggest single investment in state history.
Rendering for proposed 600-acre South Carolina battery materials operation.
Courtesy Redwood MaterialsWith demand for electric cars soaring, America desperately needs a new battery supply chain. It appears to be coming.
Redwood Materials Inc., started by Tesla co-founder J.B. Straubel, said Wednesday that it will spend $3.5 billion to develop a 600-acre site in Charleston, South Carolina, to manufacture enough critical battery components to build more than a million electric vehicles a year. It’s the second announcement of that size in less than a month, following LG Chem’s plans for a materials plant in Tennessee.