Toyota Tsusho Doubles Down on EV Battery Recycling

Toyota Tsusho acquires Radius Recycling to drive EV battery reuse and secure critical materials across North America.

18 Jul 2025

Toyota Tsusho just made a billion-dollar bet on the future of electric vehicles, and it's not on making more cars, but on what happens to their batteries after the road.

In a $1.34 billion deal finalized in July, the Japanese trading giant acquired Portland-based Radius Recycling. The purchase hands Toyota Tsusho control of more than 100 recycling sites across North America, with operations that span everything from scrap metals to end-of-life EV batteries.

The timing is sharp. As more electric vehicles hit the streets, the pileup of used batteries is growing fast. Toyota Tsusho’s move is aimed at capturing critical materials such as lithium, nickel, and cobalt that are needed to build new batteries without relying heavily on imported raw supplies.

“This acquisition strengthens our ability to support the electric vehicle transition with sustainable, locally sourced materials,” said a company executive.

With Radius in the fold, Toyota Tsusho can recycle old batteries into usable materials, shrinking environmental impact and securing a domestic loop for supply. It’s not just a sustainability play. It’s also a buffer against volatile global markets and tightening U.S. regulations that favor local sourcing and responsible disposal.

Analysts see the deal as part of a broader trend: big firms racing to lock down battery recycling capacity before demand spikes even higher. While some critics warn this could squeeze out smaller recyclers, others say serious infrastructure needs serious investment.

More than cleanup duty, recycling is quickly becoming a central pillar of the electrification economy. Control over recycled materials is starting to rival the importance of mining new ones.

Toyota Tsusho’s move suggests a shift in thinking from digging deeper to looping smarter. With Radius in its corner, the company isn't just reacting to the EV boom. It is gearing up to shape how it evolves.