Electric vehicle sales seem to be growing by the minute in the US. Although they still only have a tiny corner of the auto market cornered, astronomical valuations of industry leaders like Tesla offer a glimpse at the potential of a virtually nascent market. In order to bring costs down even further to entice consumers, the US has plans to amplify battery production on its home soil over the next decade. With global competitors miles ahead, does the US have the technology, or more importantly the resources, to gain ground in the EV battery market?Expand Expanding Close
Mercedes-Benz’s parent company, Daimler, announced a new investment in Sila Nanotechnologies Inc., a next-generation Li-ion battery startup, in order to deliver “faster charging and longer range” in electric vehicles.