Carmaker FAW Group joined Bank of China subsidiary BOCG Investment to provide $100m for lithium ceramic battery provider ProLogium.
Taiwan-based advanced battery producer ProLogium Technology has secured $100m in a series D round that included automotive manufacturer FAW Group, according to China Money Network.
FAW was joined by BOCG Investment, the venture capital arm of financial services firm Bank of China.
Founded in 2006, ProLogium produces solid-state lithium ceramic batteries it claims are safer, more stable, less flammable and compressible than lithium-ion batteries.
The batteries can be used in electric vehicles travelling across land, sea and air, in addition…
