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Porsche leads $400 million investment in EV battery biz Group14 – Gulf Insider

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Electric vehicle battery startup Group14 has raised $400 million from a group of investors led by Germany’s Porsche, the firm said on Wednesday.

Part of that money, which boosts Group14’s valuation to more than a billion dollars, will be used to build a second battery materials factory near the firm’s current site in Woodinville, outside Seattle, Chief Executive Officer Rick Luebbe said. He described the firm’s silicon-carbon anode material as “transformational technology” that will enable EV batteries to charge more quickly and hold more energy than those that use graphite.

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Group14’s previous investors include a number of companies in the EV battery sector, including ATL, BASF, Showa Denko, Cabot and SK Material

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ismailsesa

Works as an in-house Writer at Gulf Tech Plus and focuses on the latest smart consumer electronics. Closely follows the latest trends in consumer IoT and how it affects our daily lives. You can follow him on Facebook, Instagram & YouTube.

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