CHINA BRIEF | Solid-state battery maker ProLogium closes USD 100 million Series D round
Summary
Taiwan-based lithium battery pack maker ProLogium Technology said Wednesday that it has closed its Series D fundraising round, bagging nearly USD 100 million from investors including Bank of China Group Investment Limited and an investment arm of automaker FAW, 36Kr reported. On the CES tech show in the United States in January 2020, ProLogium presented its solid-state batteries, which the company believed to be safer than liquid-state batteries. The company has entered into collaborations with several electric car manufacturers including Nio, Enovate and Aiways, according to electrive.com, an EV-focused news website. In the Chinese mainland, the company needs to compete with established players including CATL, the world’s largest EV battery maker, which has cemented a supply deal with Tesla in February. This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.