Free Trial

Toyota teaming with Cirba Solutions to expand battery recycling network

A logo of Toyota Motor Corp. at a dealer Wednesday, May 11, 2022, in Tokyo. Toyota is selling a part of its stake in components maker Denso to raise cash for its drive toward electric vehicles and other innovations, Japan's top automaker said Wednesday, Nov. 29, 2023. (AP Photo/Eugene Hoshiko, File)

Toyota Motor North America is teaming with battery recycling materials and management company Cirba Solutions to expanding its battery recycling network.

Toyota said Thursday that its battery collection efforts will include those from hybrid, plug-in hybrid and battery electric vehicles.

Toyota’s collaboration with Cirba Solutions will focus on the collection, transportation, dismantling and processing of end-of-life lithium-ion electrified vehicle batteries from the Midwest and East Coast regions. Processing will take place at Cirba Solutions’ Lancaster, Ohio facility. The plant will use advanced technology to extract critical minerals from scrap and end-of-life batteries with an up to 95% recovery rate, then supply battery-grade metals back into the supply chain.

“Cirba Solutions’ large and well-established transportation and recycling network ensures Toyota has nationwide battery collection and recycling to reduce both our costs as well as our operational carbon footprint,” Christopher Yang, group vice president, Business Development, Toyota Motor North America, said in a statement.

Toyota currently collects approximately 25,000 used automotive batteries, mostly nickel-metal hydride batteries found in its hybrid electric vehicles, from its dealership network each year. The automaker expects the number of batteries, particularly end-of-life lithium-ion batteries, to rise as the number of battery electric vehicles it sells increases in the future.

Through the agreement with Cirba Solutions, Toyota anticipates reducing its overall transportation and logistics costs by at least 70% from reducing the average miles driven for collection and recycling from 1,251 to 582, based on 2022 data, and by focusing on the Midwest and East Coast regions.

Where should you invest $1,000 right now?

Before you make your next trade, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.

Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.

They believe these five stocks are the five best companies for investors to buy now...

See The Five Stocks Here

Investing Strategies To Help Grow Your Retirement Income Cover

Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Why Whitestone REIT is Outperforming in 2024: 35% Growth & Monthly Dividends
Why SoundHound Stock Dip Could Mean Big Gains for 2025 Investors
Nintendo Stock: Buy Before the 2025 Switch Platform Hits!

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines