Electric vehicles don’t only move people, they move companies too. And Volkswagen is making big moves when it comes to investing in battery-powered vehicles.
According to an article in AXIOS written by Eric Wachsman, director of the Maryland Energy Innovation Institute at the University of Maryland, founder of Ion Storage Systems, and 3rd vice president of the ECS board of directors, in June alone, Volkswagen invested $100 million in QuantumScape, a solid state battery startup. And now, the car company is considering building a factory in Europe to produce solid state batteries, a next-generation battery technology, to power their electric vehicles. Volkswagen isn’t alone. Solid-electrolyte batteries are getting international attention from companies like Toyota, Nissan, Dyson, and BMW, who’ve all made similar investments. (more…)