Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Equities
  3. United States
  4. Nasdaq
  5. Tesla, Inc.
  6. News
  7. Summary
    TSLA   US88160R1014


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Redwood, led by Tesla co-founder, to build battery materials in U.S.

09/14/2021 | 04:05pm EDT

Sept 14 (Reuters) - Redwood Materials led by Tesla co-founder J.B. Straubel said on Tuesday it will build its battery materials manufacturing facility in the United States, as the country seeks to cut reliance on imports for the key component for electric vehicles.

Battery recycling startup Redwood Materials said in a blog posting that it plans to announce a new site by early next year, aiming to manufacture 100 gigawatt-hours (GWh) per year of cathode active materials (CAM) for one million electric vehicles (EVs) by 2025.

Tesla CEO Elon Musk announced in September that the electric carmaker plans to build a cathode facility as part of its battery cell production plant.

The Biden administration has been trying to expand domestic supply of key components, such as batteries and computer chips, as part of efforts to reduce dependence on China and other countries.

"The battery supply chain... requires materials to travel tens of thousands of miles before they make their way into a battery cell," Redwood said in a blog posting, saying the complex logistics increases the overall cost and carbon footprint of a battery cell.

Redwood said it will produce anode copper foil and cathode active materials, re-using all of the lithium, copper, nickel and cobalt that it already recovers from old batteries. The materials will be supplied to battery cell makers.

The announcement comes months after Redwood said it had raised $700 million from a group of high-profile fund managers, including T. Rowe Price, Baillie Gifford and Fidelity. (Reporting by Akanksha Rana in Bengaluru and Hyunjoo Jin in San Francisco; Editing by Amy Caren Daniel and Andrea Ricci)

ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BAILLIE GIFFORD SHIN NIPPON PLC 2.19% 233 Delayed Quote.-12.73%
T. ROWE PRICE GROUP, INC. 1.19% 199.76 Delayed Quote.30.40%
TESLA, INC. 3.02% 843.03 Delayed Quote.19.47%
All news about TESLA, INC.
10/15TESLA : 'Big Short' investor Burry says he's no longer betting against Tesla - CNBC
10/15CLOSE UPDATE : US Stocks Gain Friday Amid Upbeat Earnings Reports, Surprise Rise in Retail..
10/15TESLA : Bitcoin breaches $60,000 with conviction as traders eye up new all-time high
10/15Today on Wall Street: Optimism returns
10/15TESLA : Jefferies Hikes Tesla's Price Target to $950 From $850, Maintains Buy Rating
10/15ANALYST RECOMMENDATIONS : BP, Domino's Pizza, Moderna, Tesla, US Bancorp...
10/15SOCIAL BUZZ : Wallstreetbets Move Higher, While Virgin Galactic, Corsair Gaming Decline
10/15TESLA : Jefferies keeps its Buy rating
10/15Price of Lithium for EV Batteries More Than Quadruple to Record High in China
10/14S&P 500 surges, biggest daily percentage rise since March on earnings, data
More news
Analyst Recommendations on TESLA, INC.
More recommendations
Financials (USD)
Sales 2021 50 852 M - -
Net income 2021 4 322 M - -
Net cash 2021 8 844 M - -
P/E ratio 2021 220x
Yield 2021 -
Capitalization 835 B 835 B -
EV / Sales 2021 16,2x
EV / Sales 2022 12,1x
Nbr of Employees 70 757
Free-Float 81,0%
Duration : Period :
Tesla, Inc. Technical Analysis Chart | TSLA | US88160R1014 | MarketScreener
Technical analysis trends TESLA, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 33
Last Close Price 843,03 $
Average target price 703,89 $
Spread / Average Target -16,5%
EPS Revisions
Managers and Directors
Elon Reeve Musk Technoking of Tesla
Zachary J. Kirkhorn Master of Coin
Robyn M. Denholm Chairman
Ira M. Ehrenpreis Independent Director
James Rupert Murdoch Independent Director
Sector and Competitors
1st jan.Capi. (M$)
TESLA, INC.19.47%834 612
NIO INC.-22.63%61 793
XPENG INC.-0.09%36 617
LI AUTO INC.6.28%31 136
FISKER INC.-3.41%4 190