Tesla Inc. co-founder JB Straubel’s battery recycling firm Redwood Materials Inc. cut dozens of jobs as the startup scales back some of its ambitious projects to refocus on tapping into demand for grid-scale batteries.
Tesla Inc. co-founder JB Straubel’s battery recycling firm Redwood Materials Inc. cut dozens of jobs as the startup scales back some of its ambitious projects to refocus on tapping into demand for grid-scale batteries.
JB Straubel, co-founder and chief executive officer of Redwood Materials Inc., at the company's battery recycling and manufacturing facility in McCarran, Nevada, US, on Friday, March 22, 2024. Redwood plans to manufacture enough of cathode active material, responsible for a third of the cost of a battery, to build more than 1.3 million EVs a year by 2028, in addition to other battery components that have never been made in the US before.
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