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Porsche leads $400 million investment in EV battery biz Group14

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.

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


Bahrain News Agency
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