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WSJ Tech News Briefing

Bold Names: Why Elon Musk’s Battery Guy Is Betting Big on Recycling

WSJ Tech News Briefing

The Wall Street Journal

News, Tech News

4.61.6K Ratings

🗓️ 30 November 2024

⏱️ 27 minutes

🧾️ Download transcript

Summary

JB Straubel was Elon Musk’s battery guy. Now he’s trying to turn what some see as trash into power for the electric vehicle revolution. Straubel was there at the earliest days of Tesla, and in his 15 years with the electric vehicle company, he played an integral role: he developed the battery pack used in the first Tesla vehicle, was the company’s Chief Technology Officer, and now sits on the board of directors. But his day job is running the battery-recycling startup Redwood Materials, and he envisions a future where recycled batteries power our cars, cell phones and power tools. So could companies like his one day replace the oil giants who fueled the last century? Why does he think humans have room to work harder? And can the Tesla board manage Musk as he takes on a growing role in U.S. politics, including advising the Trump administration? Straubel speaks to WSJ’s Tim Higgins and Christopher Mims in episode three of our interview series Bold Names. Check Out Past Episodes Bold Names: Why This Tesla Pioneer Says the Cheap EV Market 'Sucks'  Bold Names: Salesforce CEO Marc Benioff and the AI ‘Fantasy Land’  Further Reading The Boom in Battery Metals for EVs Is Turning to Bust  Cost-Cutting Lessons From Musk World for DOGE  The Withering Dream of a Cheap American Electric Car  What Americans Get Wrong About Electric Cars  One of the Brains Behind Tesla May Have a New Way to Make Electric Cars Cheaper  Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

exchanges the Goldman Sachs podcast featuring exchanges on the forces driving the markets and the economy

0:07.4

exchanges between the leading minds at Goldman Sachs new episodes every week listen now

0:14.2

j b straubel has been called one of the brains behind Tesla's success.

0:22.6

Now, he is attempting to use what many would see as trash to power the electric car revolution.

0:29.6

Though founded just a few years ago, his company Redwood Materials is already recycling 20 gigawatt hours of lithium ion batteries each year.

0:40.9

That's roughly equivalent to what would be found in 250,000 electric cars.

0:47.3

The elements they are pulling out of those batteries, not out of the ground, are helping the

0:51.8

company generate cash by selling materials such as lithium

0:55.5

and nickel back into the battery supply chain.

0:59.2

It feels a bit like we are inventing the next generation of refineries, so to speak.

1:06.5

Straubel speaks softly, but don't let that deceive you.

1:09.2

He says Redwood is on track for about $200 million

1:11.4

in revenue this year. And he imagines a day when all electric cars are running on recycled batteries,

1:17.8

and recycled batteries are supplying materials that go into everything in our lives,

1:22.4

from a greatly expanded power grid to every consumer gadget in our homes, Appliances, power tools, our cell phones.

1:29.5

In that future, he sees a world where humanity no longer has to pursue the messy, destructive

1:34.0

process of extracting these materials from the earth.

1:37.6

If anyone can pull this off, Straubel may be able to.

1:41.5

He spent 15 years at Tesla, where his contributions were so great he was

1:46.1

considered a co-founder. He was Elon Musk's battery guy. And now he is on the company's board.

1:53.1

While at Tesla, Straubel learned firsthand the challenges of disrupting industries, long days, hard work,

1:59.4

incredible optimism. Now he's applying what he learned from

...

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