Battery recycler to build $3.5 billion plant in the South and other business news

A battery recycler said Wednesday it will spend $3.5 billion and hire 1,500 workers on a new plant near the South Carolina coast.

Redwood Materials plans to pull out key components of batteries such as nickel, cobalt, lithium, and copper, and reuse them to make electrodes for electric vehicles, the Carson City, Nevada, company said in a statement.