Ford has teamed up with materials company Redwood Materials to create a closed-loop battery recycling program.

Redwood recycles scrap from battery cell production and consumer electronics such as cell phone batteries, laptop computers, power tools, power banks, scooters and electric bicycles. The company, founded by former Tesla CTO JB Straubel, says it can recover, on average, more than 95% of the elements like nickel, cobalt, lithium and copper.

Lisa Drake, Ford’s chief operating officer in North America, said, “Closing the loop for us in our end-of-life products and allowing those to re-enter the supply chain will help us drive down costs. Of course, it’ll help us reduce the reliance on importing a lot of the materials that we use today when we build the batteries. And then it’ll reduce the mining of raw materials, which is going to be incredibly important in the future as we start to scale on this space.”

The new partnership is part of Ford’s plan to invest over $30 billion into electrification through 2025. Ford also previously invested $50 million into Redwood to increase its manufacturing footprint.