Venture Capitalists Focus on Car Batteries

Financial Times writer Henry Sanderson reported this week that, “Venture capital investment into batteries has hit a record $1bn this year as companies race to develop better technology to power electric cars and store renewable energy from the wind and the sun.

“The amount raised by energy storage companies year-to-date is already double that of 2017, due to a large $790m fundraising in February by China’s Farasis.

“The number of investments in battery companies is set to go from 37 last year to 60 this year, according to forecasts from Cleantech Group, a marketing intelligence company. It said there have been 15 investments so far this year.”

The FT article pointed out that, “The funding highlights the surge of interest in battery technology as carmakers race to develop the next generation of electric vehicles that can compete with their petrol counterparts.”

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