Companies See Future of Battery Production in Increasing Investments

Xenia Zoller

The growing demand for innovation in the storage sector, driven by rapid technical developments, is prompting large corporations to rethink. Until now, development and research of the battery sector is carried out by scientists and engineers, who sometimes invest time and money in their projects until they achieve revolutionary results.

The research sector is now to be supported by increasing investments of the companies themselves. As early as 2018, investments increased fivefold over the previous year to 516 million US dollars. Added to this are more than 1.3 billion dollars in venture capital and private equity funds for energy storage, as well as internal research and development. Volkswagen, Siemens, Bosch, Total and Samsung have all concluded major deals to outperform the competition in terms of energy density, charging, manufacturing or cost.

Source: Quartz

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