- Battery startup Soelect and Korean supplier Lotte Chemical looked to invest over $200 million in a joint venture to make advanced battery components for electric vehicles in the U.S., Reuters reports.
- The companies collaborated to scale up the production of Soelect's LiX lithium metal anodes for next-generation batteries with higher energy density and fast-charging capability.
- The proposed venture will boost Soelect's current pilot production to high volume by 2025.
- Seoul's Lotte Group built its battery materials business, focused on electrode foils, separators, and organic solvents for electrolytes.
- Greensboro, North Carolina's Soelect, raised over $13 million and its investors include General Motors Ventures, KTB Network, and Lotte Ventures.
- General Motors Company (NYSE:GM) saw Soelect's lithium metal technology as an enabler for future lithium-metal and solid-state EV battery anode designs.
