With demand for electric cars soaring, America desperately needs a new battery supply chain. It appears to be coming. Redwood Materials Inc., started by Tesla co-founder J.B. Straubel, said Wednesday that it will spend $3.5 billion to develop a 600-acre site in Charleston, South Carolina, to manufacture enough critical battery components to build more than a million electric vehicles a year. It’s the second announcement of that size in less than a month, following LG Chem’s plans for a materials plant in Tennessee.
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