Tuesday, January 26, 2021

g-f(2)92 THE BIG PICTURE OF THE DIGITAL AGE, WSJ, U.S. Mounts a Charge to Take On China, the King of Electric-Vehicle Batteries

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The auto industry’s quickening shift to electric cars is spurring investment in another emerging industry in the U.S.: manufacturing lithium-ion batteries for those vehicles.
  • Sila Nanotechnologies, a Silicon Valley startup, is among the latest to attract Wall Street backing as supply-chain investors see enthusiasm for electric vehicles.
  • China currently dominates the market for producing electric-vehicle batteries. But as auto makers spend billions to build more plug-in models in the U.S., investors are increasing their bets on firms looking to expand the supply chain for batteries and related materials in North America—a region that has long relied on imports for such components.
  • Sila Nanotechnologies Inc., a Silicon Valley startup that makes silicon anode materials used in batteries plans to announce Tuesday that it has raised $590 million in new funding, Chief Executive Gene Berdichevsky told The Wall Street Journal.
  • Analysts are bullish that electric-vehicle sales will take off in the coming years. While today they account for about 2% of the U.S. auto market, that share is expected to grow to 10% by 2025, according to investment bank Morgan Stanley.

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Category 2: The Big Picture of the Digital Age

[genioux fact produced, deduced or extracted from WSJ]

Type of essential knowledge of this “genioux fact”: Essential Deduced and Extracted Knowledge (EDEK).

Type of validity of the "genioux fact". 

  • Inherited from sources + Supported by the knowledge of one or more experts.

Authors of the genioux fact

Fernando Machuca



Reporter, The Wall Street Journal

Ben Foldy is an auto industry reporter for The Wall Street Journal based in Detroit. He covers auto-related policy and trade, emerging technologies and the U.S. operations of foreign automakers. Before joining the Journal, he wrote for Bloomberg News and the Financial Times. Mr. Foldy holds master’s degrees from the City University of New York and McGill University.

Reporter, The Wall Street Journal

Rebecca Elliott covers Tesla and car technology for The Wall Street Journal. She previously wrote about oil and gas for the WSJ, based in Houston, and local government and politics for the Houston Chronicle. 

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