Fisker receives investment from Caterpillar
It is an unlikely pairing, an electric sports carmaker coming together with a heavy machinery manufacturer. Yet, Fisker announced that it received an investment from Caterpillar. The latter want to use Fisker’s future solid-state battery technology once it materialises.
Fisker has been making noise for their solid-state batteries for some time now, first saying their EMotion electric car would feature the energy dense power packs from the start. They since have been moving back and forth on their word with the latest development claiming the technology would be ready by 2020 reportedly.
This must have convinced Caterpillar that announced their investment in Fisker. The sum has not been disclosed but a statement reads that the strategic investment aims at “Fisker Inc.’s future solid-state battery technology with applications in construction, energy storage, transportation and mining industries”.
Caterpillar is a leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. Heavy machinery such as theirs could clearly use batteries with high energy density. Fisker promises a range of 500 km at a recharge time of less than one minute. Yet, no one has seen their solid-state battery technology in action and the EMotion they presented at the CES runs on standard Li-ion batteries by LG Chem for now.