Toyota joins Tesla co-founder's EV battery recycling firm Redwood for repurposing initiative

• Redwood Materials and Toyota to collect and repurpose cells

• Battery recycling company to build facility near Toyota plant

Japanese carmaker Toyota Motor Corp has partnered with US battery recycling startup Redwood Materials Inc to collect and repurpose cells from some of the earliest battery-powered vehicles.

Redwood, which was created by Tesla Inc (NASDAQ: TSLA) co-founder J B Straubel, on Tuesday said, collaborating with Toyota Motor North America, the company is planning to create a “closed-loop” supply chain for EV batteries by collecting end-of-life cells and repurposing the materials.