Group14 Technologies announced that it has raised $400 million in Series C funding led by Porsche AG with participation from OMERS Capital Markets, Decarbonization Partners, Riverstone Holdings LLC, Vsquared Ventures, Moore Strategic Ventures, and other large institutional investors. To deliver to customers including Porsche subsidiary Cellforce Group, Group14 plans to break ground on its second commercial-scale BAM factory in the U.S.

As automakers commit to electrify fleets, OEMs are turning to lithium-silicon technologies, which are fully compatible with existing manufacturing facilities and processes, over other industry alternatives to bring premier performance and reach cost-parity with internal combustion engines.

Cellforce Group is set to produce lithium-silicon battery cells in South Germany beginning in 2024 to be installed in electrically powered Porsche models.