- Briefing Your roundup of Asian tech and startup news that matter
Miguel Cordon · · 1 min readSoftBank China joins $326m round of Taiwanese EV battery maker
“Taiwan’s ProLogium Technology has raised a total of US$326 million in its latest funding round from Primavera Capital Group, SoftBank China Venture Capital, and others, that likely valued the solid-state lithium battery maker at US$2 billion to US$3 billion,” Reuters reported.
Details:
- With the fresh funds, the battery maker plans to bolster its solid-state lithium battery production in Asia, Europe, and the US between 2023 and 2025.
- ProLogium is also eyeing a US listing by early 2022, the report noted citing two sources familiar with the matter.
Dive deeper:
- While the company has yet to deliver any of its products to electric vehicle (EV) manufacturers, its website shows it has inked agreements with firms such Nio and Enovate.
- Earlier this year, ProLogium also entered into an EV battery venture with Vietnamese carmaker VinFast.
Editing by Collin Furtado and Lorenzo Kyle Subido
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
