SHANGHAI (Reuters) – ProLogium Technology Co, a Taiwanese battery maker, said on Friday it had raised a total of $326 million from Primavera Capital Group, SoftBank China Venture Capital and others, as they bet on the next generation electric-vehicle (EV) batteries.
The capital will allow ProLogium to expand its mass production of solid-state lithium batteries in Asia, Europe and the United States between 2023 and 2025, the company said in a statement.
Solid-state batteries could be game changer for EVs by storing more energy, charging faster and offering greater safety than liquid lithium-ion batteries, helping accelerate the shift away from fossil fuel-powered cars.
(Reporting by Zhang Yan，and Brenda Goh in Shanghai; Editing by Rashmi Aich)
