Redwood Materials Plans $3.5 Billion Battery-Materials Plant in Nevada

The company run by Tesla Inc.’s former chief technology officer plans to spend $3.5 billion on a battery-materials factory in northwest Nevada, a bet that electric-vehicle demand is only starting to take off.

The Redwood Materials Inc. plant under construction outside Reno, Nev., is expected to be one of the first U.S. facilities to produce key ingredients needed to make the batteries that power electric vehicles.

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