Recently, Porsche announced that it has invested $100 million in Group14 Technologies, an advanced silicon carbon technology producer for lithium batteries. Porsche plans to use this technology in its high-performance cars.
"Batteries are at the heart of the future and our goal is to be the leading company in the world's strongest battery competition," said Lutz Meschke, Porsche's head of finance. The investment is part of the Washington-based company's Series C funding round. Group14 received $400 million in funding to build another plant in the U.S. that produces battery-active materials.
Group14 has developed a battery chemistry with silicon as the anode material. This significantly increases the power density of the battery compared to existing batteries, allowing for greater range. The technology also reduces the internal resistance of the battery, which means it can charge faster than today's batteries.
Markus Gr?f, Group Chief Operating Officer, Cellforce, said: "Group14's anode material has the potential to be a rule-changer for shorter charging times.
Porsche said in a statement that Group14 will supply products to the Cellforce Group. The Cellforce Group is a joint venture between Porsche and Customcells Holding in 2021. The company plans to develop and produce high-performance batteries using these silicon anodes for small series production, racing cars and high-performance vehicles in the future.
Michael Steiner, Head of R&D at Porsche, said: "This new battery has the chemical properties of fast charging, high performance and low weight, which will directly give the Porsche brand an advantage." "They are in line with our goal of developing electric sports cars in the future." In addition to investing in electric vehicles, Porsche is also investing in e-Fuels to keep up with a greener future.
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