Porsche's investment in Group 14 Technologies brings access to a silicon anode that can provide greater energy density in batteries.
Porsche on Wednesday announced a $100 million investment in Washington State-based battery firm Group 14 Technologies. The automaker aims to use investments like this to become a leader in battery technology.
Porsche is leading Group 14 Technologies' Series C funding round, in which multiple companies are investing a total of $400 million, the automaker said in a press release. Based in Woodinville, Washington, Group 14 Technologies has developed a silicon anode for lithium-ion battery cells, which provides greater energy density than conventional lithium-ion chemistry, Porsche claims. That means more energy can be stored in a given volume, increasing EV range without increasing the size of the battery pack.
"The battery cell is the combustion chamber of the future," Lutz Meschke, deputy chairman of Porsche's executive board, said in a statement."Our goal is to be a leading company within the global competition for the most powerful battery cell."
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