Aiming To Make Electric Car Batteries More Efficient, BMW Is Investing in Lithium Technology Startups

BMW has announced an investment in lithium technology startup Lilac Solutions Inc, with the aim of producing electric vehicle batteries more efficiently. Lilac Solutions is a US lithium extraction technology development and application company, which dedicated to ensuring that lithium mining processes use less water and are more sustainable. Its technology can significantly reduce water use, reduce capital expenditure and improve lithium extraction efficiency.

BMW participated in Lilac's Series B financing round along with SK Materials, Sumitomo's investment arm Presidio Ventures and others. BMW declined to discuss the amount of its investment, but the total for all investors announced Wednesday is less than $20 million, according to regulatory filings.

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