Porsche Invests $100 million on lithium-silicon battery technology

Porsche charger - Porsche Invests $100 million on lithium-silicon battery technology

is reportedly investing heavily in new for its future cars. They announced that they had invested $100 million in -silicon technology.

Porsche will equip its future electric cars with . These batteries are considered more efficient than conventional batteries.

The company claims that it aims to accelerate the production of anode materials for lithium-ion batteries worldwide. The move was taken because Porsche will develop silicon anodes to produce high-performance battery cells.

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The lithium-silicon battery itself is claimed to store 50 percent additional energy than traditional graphite anodes. Later this battery is scheduled to go into production starting in 2024.

For your information, lithium-ion batteries currently dominate the battery industry. But in fact there are battery technologies that are cheaper and more efficient than lithium-ion.

Several car manufacturers are rumored to have been exploring different types of battery technology in an effort to reduce the cost of producing their . This is done to make electric vehicles more affordable for consumers. Batteries are known to be one of the components that make electric vehicles still expensive today.

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Porsche is known to have ambitions to become a major player in the electric vehicle market in the next decade. By producing lithium-silicon batteries, the luxury car manufacturer feels confident it can reach the global electric vehicle market.