Bucking EV slowdown, Sila raises $300M to expand battery materials factory
Sila's fresh $300 million round will help it make enough of its silicon-carbon anode material to power more than 100,000 EVs.
AI Summary
Sila raised $300 million to expand its Washington State factory, aiming to produce enough silicon-carbon anode material for over 100,000 EVs. The funding comes despite a slowdown in U.S. EV demand, as global EV sales rise 27% year over year. Sila's material stores 40% more energy and charges faster than traditional graphite anodes, offering an alternative to Chinese-dominated supply chains.