RE:Silicon transitioning
Yahoo Yahoo Finance Video Electric vehicles: The entire industry is transitioning to silicon batteries, Group14 CEO says May 9, 2022, 9:51 am Group14 CEO & Co-Founder Rick Luebbe joins Yahoo Finance Live to discuss electric vehicle adoption, raising $400 miliion in funding led by Porsche, and the outlook for lithium-silicon batteries. Video Transcript AKIKO FUJITA: Well, as electric vehicle adoption accelerates, battery technology is increasingly critical for those EV makers as they seek more power, less weight, and cheaper costs. Our next guest thinks his company could have the solution with lithium silicon battery technology, which could also prove useful solving other power problems like grid storage. Let's bring in Rick Luebbe. He is Group14 CEO and co-founder. He's joining us from Woodinville, Washington today. Rick, it's good to talk to you. Let's start by laying out for those who are not as familiar with the technology, how does lithium silicon battery differ from lithium ion, which is something that I think a lot more people are familiar with? RICK LUEBBE: Sure. Hi, Akiko. Actually, I'm joining you today from Germany. I'm here visiting with customers and partners, following up the announcement of the investment from Porsche. But a little bit about silicon battery technology, you know, it's really a transformational technology relative to what we understand and the performance we get from lithium ion. So it's a very different chemistry on the anode, the anode part of the battery. It enables much higher energy density, so up to 50% more range in an EV, for example. And much charger-- much faster charge rates, and so with the silicon battery, you could potentially completely recharge your EV in less than 10 minutes, maybe even as fast as five minutes.