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Porsche investment in Group 14: New battery material

Taycan sport limousine

With the new battery materials, Porsche could increase the range and charging speed of its cars’ batteries.

Stuttgart, Dusseldorf For new high-performance batteries, Porsche can once again go its way into the Volkswagen Group with a lot of money: First, in 2021, the Zuffenhausen-based company announced that it would build a cell factory itself. for high performance batteries. Then the venture capital spin-off Porsche Ventures acquired a stake in cooperation partner and battery specialist Customcells. Now the sports car maker secures more powerful new cellular technology for the new plant with a direct investment.

The Zuffenhausen-based company acquired a stake in the US company Group14 Technologies, a manufacturer of silicon-carbon technology for lithium-ion batteries based in Woodinville (Washington, USA), for approximately 100 million US dollars.

The issue of batteries, underestimated by the German automotive industry for many years, is now at the top of management’s priority list. “The battery cell is the combustion chamber of the future,” Porsche CEO Oliver Blume recently explained. In the future, it will not be displacement and power that will determine success, but rather the performance of the battery. And this is where the sporty VW subsidiary wants to distinguish itself from the automotive competition in the electric age.

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