Porsche develops and manufactures battery cells that claim to be high-performance, the sports car manufacturer acquired a stake in US company Group14 Technologies, a manufacturer of advanced silicon-carbon technology for lithium-ion batteries.
As the main investor, Porsche raised 100 million US dollars and led a Series C funding round in, in total, several companies invested a total of 400 million US dollars (about 328 million euros).
Group14 Technologies, based in Woodinville in Washington state, intends to use the capital increase to accelerate production of anode materials for lithium-ion batteries worldwide.
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Before the end of the year, Group14 will lay the foundation for another plant for battery active materials (BAM) production in the US. In the future, Group14 will also supply the Cellforce Group of TĂŒbingen and Porsche is claimed to hold the majority stake.
The Cellforce battery cells are expected to be used in electric Porsche vehicles with high-performance powertrains.
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Michael Steiner, Member of the Executive Board for Research and Development said, âThe chemical characteristics of the new cell, fast charging, high performance and low weight, are in line with the development goals we outlined in the specifications for our prospective electric sports car.â