Daimler Drives Investment in Better Battery for Electric Vehicles

Germany’s Daimler AG led a $170 million funding round on April 16 for Silicon Valley startup Sila Nanotechnologies, which has developed a silicon-based substitute for the graphite in lithium-ion batteries that the company says will improve their energy capacity by 20%. The materials that Sila is developing will give Daimler’s commitment to electrification a significant boost, since Mercedes-Benz, which it owns, has plans to electrify its whole product suite by 2022.