Tesla co-founder says EV sales are about to take off, but questions whether production can keep up

PUBLISHED WED, JAN 12 20224:15 PM ESTUPDATED WED, JAN 12 20228:22 PM EST

KEY POINTS

• Tesla co-founder JB Straubel says industry sales estimates predicting EVs will account for 12.7% of all U.S. auto sales by 2025 may be too low.
• EV battery-recycling company Redwood Materials is spending $1 billion to build a new plant in McCarran, Nev.
• The facility will produce anode copper foil that will ultimately go into battery packs manufactured at the Tesla Gigafactory in Nevada.

excerpt

"Redwood Materials estimates the plant, which will ultimately employ more than 500 people, will produce enough anode copper foil to supply 1 million EVs annually. The company says its plant will be the first in the U.S. to supply anode copper foil with most of the supply currently being imported from Asia, primarily China and South Korea.

Meanwhile, lithium-ion battery production is looking to keep pace with EV automakers. Last year, the global capacity for lithium-ion battery manufacturing was 713 gigawatt hours, according to AlixPartners, an automotive industry consulting firm. By 2025, AlixPartners expects that number to more than triple to 2,273 gigawatt hours, with U.S. EV battery production more than quadrupling."

Tesla co-founder: EV sales in takeoff mode, but production a worry (cnbc.com)