Caterpillar Ventures makes strategic investment in Fisker Inc

The investment will accelerate development of Fisker Inc's solid-state battery technology for applications in construction, energy storage, transportation and mining industries.

Autocar Pro News Desk By Autocar Pro News Desk calendar 23 Oct 2018 Views icon7132 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp

Henrik Fisker, the well-known automobile designer and entrepreneur, who is driving the development for Fisker Inc, has announced that it has received strategic investment from Caterpillar Venture Capital.

The venture capital firm is a wholly owned subsidiary of Caterpillar Inc, the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.

Fisker has filed for patents securing solid state battery technology that it claims will enable a 500-mile / 800-kilometres range and charging that can take just one minute. It is said that the technology could be production-ready for automotive platforms as soon as 2023, but that non-automotive applications may be able to utilise it earlier.

The investment will give a push to commercialisation of the solid-state batteries. The partners say Caterpillar Ventures' investment in Fisker Inc, illustrates a mutually recognised importance that electrification solutions will represent to multiple business segments in the future.

While Caterpillar and Fisker serve fundamentally different industries, advancements in electrification technologies pose increasing importance and offer the potential to positively impact customer value for the right products.   

Also read: Fisker plans India tech centre, seeks government support for battery and EV plants

Henrik Fisker joins advisory board of Motec Ventures


TVS Motor invests in Ion Mobility, to help drive EV growth in Singapore, Indonesia

auther Autocar Pro News Desk calendar02 Feb 2023

Ion Mobility is a full-stack EV company with a strong team of engineers and technical base in Singapore.

Peugeot 208 is Europe’s best-seller in 2022, new car market in third straight year of decline

auther Autocar Pro News Desk calendar02 Feb 2023

JATO Dynamics data for 30 markets reveals total sales of 11,309,310 units are down by 4.1% YoY and at the lowest level s...

Marelli wins global contract to supply BMS to future BEVs from leading carmaker

auther Autocar Pro News Desk calendar02 Feb 2023

The system will be developed and tested by Marelli Electric Powertrain teams in Italy and Japan; start of production pla...