Lithium-ion batteries are all over the place — in telephones, laptops, tablets, cameras and ever more cars and trucks. Demand for lithium-ion batteries has risen sharply in the earlier five a long time and is expected to improve from a $44.2 billion sector in 2020 to a $94.4 billion current market by 2025, mostly due to the growth in electric powered cars and trucks, according to MarketsandMarkets. And a lack of lithium-ion batteries is looming in the U.S.
Previous Tesla CTO and the mastermind behind lots of of Tesla’s main systems, JB Straubel, started Redwood Products in 2017 to assist deal with the need for extra raw materials and to solve the difficulty of e-squander. The organization recycles finish-of-life batteries and then materials battery makers and auto providers with raw elements in limited supply as EV generation surges all-around the entire world.
Straubel gave CNBC an within look at its 1st recycling facility in Carson City, Nevada. Check out the online video to discover why battery recycling will be an essential element in producing EV production a lot more sustainable.