Dec 14 (Reuters) - Redwood Materials is the latest company to set up shop in South Carolina's growing community of electric vehicle and battery manufacturers, the Carson City, Nevada-based firm said on Wednesday.
Redwood said it will build a $3.5 billion battery materials campus in Ridgefield, about 30 miles (48.28 km) northwest of Charleston, that will recycle, refine and remanufacture cathode and anode materials such as nickel, cobalt, lithium and copper.
The Ridgefield facility is expected to supply battery materials to Ford Motor (F.N) and SK On in Kentucky, Toyota Motor (7203.T) in North Carolina and Volvo and Envision AESC in South Carolina.
Volvo is building a battery plant next to its assembly facility in Ridgeville and BMW is partnering with Envision AESC on a $700 million battery plant in Woodruff.
A second North American “battery belt” is springing up in Canada, in Becancour, Quebec, on the St. Lawrence River.