Porsche , one of the German-based automakers , has officially announced that it has participated in the C Series financing round for the United States (Washington)-based Group14 Technologies company, which specializes in lithium-silicon batteries. The total funding round began with Porsche investing $100 million towards its goal of becoming a global leader in the market for the most powerful battery cells and closed with $400 million.
Funds were raised to help the company build another factory in the United States to produce battery materials.
What is Lithium-Silicone battery?
The battery technology being developed by Group14 begins by replacing the anode material with silicon or a silicon-graphite mixture. This increases the battery density by up to 30 percent, giving an electric vehicle much greater range, while the new material significantly increases the charging speed.
This isn’t a very difficult lab-based experiment, either. The company was funded in 2015 and continues to develop the product since the current iteration is commercially available for direct replacement of existing anode materials.
