EV battery component manufacturer to build $3.5 billion production facility in South Carolina
Redwood Materials has announced plans to begin operations in Ridgeville, South Carolina. The company, which produces anode and cathode battery components for electric vehicles, will invest $3.5 billion into the project, creating 1,500 new jobs in the process. According to the company, this 600-acre campus will be used to onshore production of the most critical components in batteries and to create a circular supply chain for electric vehicles. The battery components will be produced with as much recycled material as possible. The facility will create enough anode and cathode material for 100 gigawatt-hours (GWh) of battery cell production or 1 million electric vehicles each year.
In a recent quote, Redwood Materials Founder and Chief Executive Officer JB Straubel said, “South Carolina’s commitment to creating a secure energy future and a competitive landscape for electric vehicle manufacturing, supported by a world-class workforce, fast and efficient logistics, zero-carbon electricity and a phenomenal site made it a smart decision for Redwood to invest here. Redwood’s South Carolina Battery Materials Campus will recycle, refine and remanufacture anode and cathode components allowing us to support our current and future customers in the heart of America's battery belt. We're ready to support this region and U.S. electrification by driving down battery costs, emissions, and reducing reliance on foreign supply chains.”
Investing in American Manufacturing - 2024
This map shows where manufacturers are choosing to invest their resources, whether they are building new production facilities or expanding existing plants.