Cleaner Tech
Tesla Co-Founder's EV Battery Firm Gets $2 Billion Federal Loan
Redwood Materials plans to build enough components to make 1 million EV batteries a year with the loan from a US Department of Energy program.
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America’s battery supply chain is getting a jump start.
Redwood Materials Inc., created by Tesla co-founder J.B. Straubel, said on Thursday that it received a $2 billion loan commitment from the Biden administration to build enough critical battery components to produce a million electric vehicles a year.