Lithium-ion batteries are everywhere – in phones, laptops, tablets, cameras and increasingly also in cars. The demand for lithium-ion batteries has grown significantly over the past five years and is expected to move from a market valued at $ 44.2 billion in 2020 to a market valued at $ 94.4 billion, according to MarketsandMarkets in 2025, mainly due to the boom in electric cars. A shortage of lithium-ion batteries is becoming apparent in the USA
Former Tesla CTO and thought leader of many of Tesla’s core technologies, JB Straubel, launched Redwood Materials in 2017 to meet the need for more raw materials and solve the e-waste problem. The company recycles used batteries and supplies battery manufacturers and car companies with raw materials that are in short supply due to the increasing global production of electric vehicles.
Straubel gave CNBC a look at its first recycling facility in Carson City, Nevada. Watch the video to learn why recycling batteries will be an essential part of making EVs more sustainable.