Welcome to the Daily 5 report for June 27.
Happy Friday!
Tariffs are still front and center in the news these days for both automakers and suppliers. Tariff-related tensions are constraining the supply of lithium iron phosphate batteries often used in storage systems.
That's where Redwood Materials, the battery reuse company built by Tesla veteran J.B. Straubel, comes in.
Pete Bigelow, reporting from Sparks, Nev., writes that alongside its traditional battery recycling business, Redwood is now giving some used electric vehicle batteries from Toyota, BMW, General Motors and others a second life through its Redwood Energy division.
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Leading energy experts say stationary storage has a big role in plugging a gap in U.S. electricity demand caused by power-thirsty artificial intelligence data centers.
In fact, utility companies cannot keep pace with demand, said Nathan Niese, global lead for electric vehicles and energy storage at Boston Consulting Group.
"I expect we'll have significant, significant appetite for energy storage," he said, projecting it will double from today's levels by 2030.
The first of Redwood's storage projects is operational at the company's campus in Sparks, where Redwood showcased its handiwork for hundreds of visitors June 26. The project uses 792 second-life battery packs across 2 acres of sprawling desert, constituting what Redwood believes is the largest microgrid in North America.
Other stories you will want to check out include the reasons Japan's auto exports keep climbing for Toyota and Honda despite the tariffs. Also, read about the latest high-ranking Tesla executive to bolt from the company, how German automakers and suppliers are teaming up to battle U.S. tech dominance and the value of that cargo ship that sunk with some 3,000 Chinese cars on board.
That's it for now. Have a great weekend.
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— Wes Raynal, assistant web editor
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