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Ford Is Boosting Its Stake in Battery Start-Up Solid Power, a Key QuantumScape Rival

·2-min read
Ford Is Boosting Its Stake in Battery Start-Up Solid Power, a Key QuantumScape Rival
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Ford Motor Company (NYSE: F) said that it's increasing its ownership stake in Solid Power, a Colorado-based maker of solid-state batteries for electric vehicles (EVs) that has positioned itself as a key rival to QuantumScape (NYSE: QS). Ford, which first invested in Solid Power in 2019, said that it will invest an unspecified sum in the battery maker's current $130 million Series B funding round. Once the round is complete, Ford and rival automaker BMW (OTC: BMWYY) (OTC: BAMXF), which is also investing in the Series B round, will own equal stakes in Solid Power.

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