By CAR Staff
Peterborough, Ontario -- May 3, 2017 -- A report by Reuters has uncovered what may be a link between Tesla and a recycling company. This is especially intriguing given a statement made by the electric car manufacturer that indicated the company was "re-thinking the materials supply chain."
The company in question, Redwood Materials, is not an automotive recycler, but a materials recycling firm. Redwood Materials is located in Redwood City, California and lists J.B. Straubel, Tesla's Chief Technology Officer, and Andrew Stevenson, Tesla’s Head of Special Projects, as executive officers of the company.
Redwood Materials has not disclosed any direct link with Tesla. However, the company raised $2 million from a single undisclosed investor in April 2017.
Tesla is famous for its electric luxury cars, but the company plans to launch a mass-market version, the Model 3, later this year. It might be that attempts to keep costs low have led Tesla to look at materials recycling, both for additional revenue and as a source of raw materials.