Stellantis said it has invested in Lyten, a Silicon Valley startup that is developing lithium-sulfur EV batteries made with three-dimensional graphene that promise reduced weight, higher energy density and a simpler bill of materials.
The two companies announced the tie-up on Thursday. They would not disclose the size of the investment, other to say that Stellantis Ventures, the group’s tech-focused venture capital fund, wouldhave a “significant” role in Lyten’s current funding round.
Lyten’s lithium-sulfur batteries will be ready for production by the end of the decade, Oliver Gross, senior fellow energy storage and electrification at Stellantis, said.
“We wanted to find a technology that will be well deployable within the Dare Forward 2030 goals,” Gross said of Stellantis’ strategic plan, which envisages sales of more than 5 million EVs globally by that time, including 100 percent of European sales and 50 percent in the U.S.