Toyota And Redwood Materials Forge Expanded Recycling Deal For End-Of-Life Automotive Batteries
Portfolio Pulse from Shivani Kumaresan
Toyota Motor Corporation (NYSE:TM) has expanded its recycling agreement with Redwood Materials to include the creation of a circular supply chain for end-of-life automotive batteries from Toyota's electrified vehicles. The deal also allows Toyota to use recycled materials for new battery production. This follows a previous collaboration for battery collection and recycling. Toyota's North American supply chain will be supported by Redwood's Nevada facility, with an emphasis on the retiring fleet in California. TM shares saw a 0.95% increase to $192.20.
November 17, 2023 | 3:24 pm
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Toyota's expanded recycling agreement with Redwood Materials emphasizes sustainability and responsible end-of-life battery management, potentially boosting investor confidence in Toyota's environmental initiatives.
The expanded agreement with Redwood Materials is likely to be viewed positively by investors who are increasingly valuing corporate responsibility and sustainability. This could lead to a short-term positive impact on TM's stock price, as evidenced by the 0.95% increase on the last check. The focus on a circular supply chain and the reuse of materials for new batteries may also be seen as a strategic move to reduce costs and dependency on raw materials in the long term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80