Silicon Valley Startup Charts a Path to Cheaper EV Batteries
Lyten is among the US startups positioned to benefit from Washington taking on China.
Yayoi Sekine, BloombergNEF’s head of energy storage, holds up a jar of graphene at Lyten’s facility in San Jose, California.
Source: Bloomberg
As many of the largest US technology companies shed employees, the government is embracing clean technology as a huge employment opportunity, pumping massive sums into electric vehicles and batteries with the hopes of breaking China’s dominance of the sector.
The $370 billion of clean energy investment included in the Inflation Reduction Act and billions more set aside in the Infrastructure Investment and Jobs Act will benefit companies making the lithium-ion batteries that dominate the landscape today, and potentially support the next-generation chemistries that could usurp what’s commonplace in the market.