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- Ford Motor Co F has partnered with Redwood Materials, a battery materials company, to localize the supply chain network with electric battery recycling.
- The collaboration will create recycling options for end-of-life vehicles, ramp lithium-ion recycling, and increase U.S. battery production.
- Ford has invested $50 million to help expand Redwood's manufacturing footprint.
- The alliance will integrate battery recycling into Ford's domestic battery strategy as Redwood's recycling technology can recover, on average, more than 95% of the elements like nickel, cobalt, lithium, and copper.
- Price Action: F shares are trading higher by 3.6% at $13.23 on the last check Wednesday.
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