Amazon Invests In Former Tesla CTO's Battery Recycling Startup

Benzinga EV Insights

Thu, Sep 17, 2020, 3:39 PM1 min read

In this article:

While electric vehicles are meant to help reduce the human impact on the environment, they bring other negative effects while offsetting CO2 emissions.

Once a car's battery degrades, where does it go?

The startup Redwood Materials, founded by former Tesla Inc (NASDAQ: TSLA) CTO JB Straubel, is working to answer that question.

The company must be doing a good job, because now Amazon.com Inc (NASDAQ: AMZN) is investing in the battery recycling business.

Amazon wants to recycle electric vehicle batteries, along with other lithium-ion batteries and e-waste.

The investment amount was not released, but it is part of Amazon's $2-billion Climate Pledge Fund.

Benzinga's Take: Now that electric vehicles are becoming more popular, this problem needs to be tackled.

The first Tesla Model S vehicles will be coming out of their eight-year, unlimited miles warranty this year.

As time goes on, the number of old batteries will increase. Amazon also hopes to have its own fleet of electric vehicles, after making investments in electric vehicle company Rivian.

See more from Benzinga

'Which Bucket Do I Draw From First?' Suze Orman Explains To 67-Year-Old The Best Order For Tapping Into Her Retirement Accounts
When Ellen, a 67-year-old retiree, reached out to Suze Orman during her podcast, she had a straightforward yet crucial financial inquiry: "Which bucket do I draw from first?" Ellen, whose Social Security covers most of her daily living expenses, needed guidance on how to use her different types of retirement accounts for additional expenditures like travel. Don't Miss: The recommended retirement savings amount is $550K, but here is why so many Americans are falling short. Reddit user reveals his
Benzinga
A Once-in-a-Decade Opportunity: 3 Magnificent Dividend Stocks Down Between 19% and 28% to Buy Now and Hold Forever
These three low-volatility, dividend-growth stocks offer the potential to rebound while trading near decade-low valuations.
Motley Fool
Can You Guess How Many Retire With A $5 Million Nest Egg?
In the realm of retirement savings, only a select few in the United States achieve the milestone of a $5 million nest egg. Data from the Employee Benefit Research Institute, based on the Federal Reserve’s Survey of Consumer Finances, reveals that a mere 0.1% of retirees manage to accumulate over $5 million in their retirement accounts, whereas only 3.2% amass over $1 million. Don't Miss: 82% of Americans aren’t using this government secured 5% passive income stream, are you one of them? Can you
Benzinga
1 Ridiculously Undervalued Growth Stock Down 93% to Buy Hand Over Fist Right Now in May
Investors are not convinced that this cheap stock is safe from the rising effectiveness of artificial intelligence.
Motley Fool
Southern States Sink As Seriously Underwater Home Mortgages Rise
According to a report released on May 9, 2024, the number of properties classified as seriously underwater is ticking up, with southern states bearing the brunt of the phenomenon. One in 37 homes with mortgages was considered seriously underwater during the first quarter, according to real estate data provider ATTOM's 2024 U.S. Home Equity & Underwater Report. That's up from one in 38 homes during the fourth quarter of last year. A mortgage is considered seriously underwater when the estimated l
Benzinga
Analysts overhaul Nvidia stock price targets ahead of earnings
The chipmaker's new GB200 platform could transform its medium-term revenue growth, according to Wall Street analysts.
TheStreet
Fort Worth's tallest building sells for just $12.3M at auction in stunning price drop
The tallest building in Fort Worth, Texas, has been bought by a bank for $12.3 million, three years after it sold $137.5 million. Burnett Plaza has 40 stories and is 567 feet tall.
Fox Business
Forget Starbucks: Buy This Other Sizzling-Hot Coffee Chain Stock Instead
Starbucks is facing a number of challenges right now, and consumers may be opting for an up-and-coming chain as an alternative.
Motley Fool
GameStop stock soars over 70% as 'Roaring Kitty' revival reignites meme-stock bonanza
GameStop stock surged as much as 110% after 'Roaring Kitty,' who was credited with starting the 2021 meme stock frenzy, posted on X for the first time in three years.
Yahoo Finance
Tesla rehires some Supercharger workers weeks Musk cut them
Tesla has begun hiring back some of the almost 500 members of its Supercharging team that Chief Executive Officer Elon Musk dismissed late last month.
Autoblog

News

Life

Entertainment

Finance

Sports

New on Yahoo

Yahoo Finance

Amazon Invests In Former Tesla CTO's Battery Recycling Startup

Recommended Stories

'Which Bucket Do I Draw From First?' Suze Orman Explains To 67-Year-Old The Best Order For Tapping Into Her Retirement Accounts

A Once-in-a-Decade Opportunity: 3 Magnificent Dividend Stocks Down Between 19% and 28% to Buy Now and Hold Forever

Can You Guess How Many Retire With A $5 Million Nest Egg?

1 Ridiculously Undervalued Growth Stock Down 93% to Buy Hand Over Fist Right Now in May

Southern States Sink As Seriously Underwater Home Mortgages Rise

Analysts overhaul Nvidia stock price targets ahead of earnings

Fort Worth's tallest building sells for just $12.3M at auction in stunning price drop

Forget Starbucks: Buy This Other Sizzling-Hot Coffee Chain Stock Instead

GameStop stock soars over 70% as 'Roaring Kitty' revival reignites meme-stock bonanza

Tesla rehires some Supercharger workers weeks Musk cut them