In a notable move within the electric vehicle sector, Jeffrey Straubel, a key director at QuantumScape Corp (NYSE:QS), has sold a substantial number of shares in the company.
The battery components company created by Tesla cofounder JB Straubel wants the high-value metals used in 250,000 electric vehicles, hybrids and plug-in.
Redwood Materials said Tuesday it acquired lithium-ion battery recycler Redux Recycling, a purchase meant to accelerate U.S. company's expansion into Europe. This is Redwood's second acquisition since former Tesla co-founder and CTO JB Straubel founded the battery materials and recycling startup in 2017. Last year, Redwood acquired a small UK recycling technology company.