Ford: new investment in Solid Power
(CercleFinance.com) - Ford Motor has announced it is increasing its stake in Solid Power, a producer of solid-state batteries for electric vehicles, adding to the investment made in 2019, to help it accelerate the development of its technology.
The Dearborn-based car maker is contributing to a 130 million dollar Series B fundraising round, through which BMW Group becomes an equal equity holder with it. Both groups will have representatives on Solid Power's board.
In addition, both Ford and BMW have entered into joint development agreements with Solid Power to develop and test its battery technology to meet their engineering and manufacturing needs for their respective future vehicles.
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