Group14 lands $463M from SK, Porsche, and others to make silicon anodes for EVs

Battery materials startup Group14 announced Wednesday it has closed a $463 million funding round to expand its manufacturing footprint, a sign that investors remain confident in the future of electric vehicles.

The startup manufactures silicon anode materials, which significantly boost the storage capacity of lithium-ion batteries. Group14 currently operates three factories, two in the U.S. and one in South Korea.

Despite headlines about softening demand growth for electric vehicles, the global market for lithium-ion batteries remains…