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 TSLA CTO JB Straubel, is working to answer that question.
The company must be doing a good job, because now Amazon.com Inc 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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