Fisker, an electric car startup founded by renowned designer Henrik Fisker, has announced that its solid-state battery technology has received investment from Caterpillar, a heavy machinery manufacturer. Fisker, based in Los Angeles, did not disclose the exact amount of the investment, but said that Caterpillar's investment in Fisco shows that both parties agree on the importance of electrification solutions to multiple business units in the future.
Earlier this year, Fisker introduced the all-new electric car EMotion, and said that it could reach a range of 400 miles on a single charge. Unlike the first Fisker battery that relied on the A123 battery system, EMotion is said to use Fisker's latest battery technology. Last year, Fisker stated that its solid-state battery technology had made a breakthrough, allowing electric cars to be fully charged in one minute, and the range of electric cars was 500 miles.
Caterpillar, Illinois-based Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel electric locomotives. Its venture capital unit, Caterpillar Venture Capital Inc., has been focusing on investments Robotics, energy, advanced materials and digital technology.
Fisker's solid-state battery is the next generation of lithium-ion batteries for future battery technology. Its electrodes provide high energy density, higher safety, faster charging time and lower cost. Fisker said the patent-pending Fisker flexible solid-state battery costs less than $ 100 per kilowatt hour and can be used in the construction, energy storage, transportation, and mining industries.
The commercialization time of the battery technology is unknown, but Fisk previously said that it should be between 2018 and 2023.