Hyperdrive
Daimler Places Bet on Next-Generation Battery Startup
- German automotive giant invests in Sila Nanotechnologies
- Former GE CEO Jeff Immelt also joins startup’s board
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As it pushes to electrify its fleet, German automaker Daimler AG has invested in a startup that says it can boost battery performance by at least 20 percent.
Daimler led a $170 million financing round for Sila Nanotechnologies Inc., a San Francisco Bay Area startup that makes silicon-based anode materials for lithium-ion batteries, according to a statement Tuesday. The startup has raised $295 million to date.