Electric Vehicles
Mercedes Strikes Second-Life Battery Pact With Canadian Startup
- Moment Energy is raising up to $20 million in series A round
- Company reached similar agreement with Nissan in 2020
A ChargePoint electric vehicle (EV) charging station at the Mercedes-Benz of Louisville dealership in Louisville, Kentucky, U.S. A Mercedes-Benz Group AG subsidiary that focuses on electric vehicle battery storage has reached an agreement with a Canadian startup to repurpose partly-spent EV batteries.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
A Mercedes-Benz Group AG subsidiary that focuses on electric vehicle battery storage has reached an agreement with a Canadian startup to repurpose partly-spent EV batteries.
Mercedes-Benz Energy will supply used batteries from the automaker’s electric vehicles to Vancouver-based Moment Energy Inc., which will convert them to modules that provide rechargeable power to commercial and industrial buildings.