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Shares of large automakers, including Ford Motor Company (NYSE: F), are trading higher amid an overall market rebound as stocks regain some losses following Monday's selloff.
Ford and Redwood Materials also today announced they are working together to build out battery recycling and a domestic battery supply chain for electric vehicles.
Ford and Redwood say their goal is to make electric vehicles more sustainable, drive down the cost for batteries and ultimately help make electric vehicles accessible and affordable for more Americans.
Ford Motor Co. manufactures automobiles under its Ford and Lincoln brands. The company has about 14% market share in the United States and about 7% share in Europe. Ford has about 186,000 employees, including about 58,000 UAW employees, and is based in Dearborn, Michigan.
Ford shares are trading higher by 3.6% at $13.24. Ford has a 52-week high of $16.46 and a 52-week low of $6.41.
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