Big Money Bets Big On Plug-In Cars
Over $1 Billion Bet on Electric Car Batteries Already This Year; Venture capital investment in energy storage has already doubled last year's total.
Dave Partosiak, March 18, 2018 (The Drive)
“…[This year alone, venture capital firms have poured in a record $1 billion into battery technology…[doubling] what firms invested last year…[China’s Farasis raised] $790 million in an agreement with one of China’s largest auto manufacturers, BAIC, to supply] 1 million battery packs over the next five years…This year, the number of investments in battery companies from venture capitalists is likely to hit 60, up from 37 last year. The first billion dollars have only been spread across 15 companies…[L]arger automotive manufacturers have been creating their own venture capital firms to invest in battery technology…[Renault-Nissan-Mitsubishi’s new $1 billion venture capital fund will] invest $200 million a year over the next five years…A lot of this money is going into research for alternative materials…” click here for more