Renault-Nissan Backs EV Battery Maker

Renault-Nissan Backs EV Battery Maker

The Renault-Nissan-Mitsubishi Alliance is investing in a Californian maker of electric vehicle batteries through its venture capital unit.

Alliance Ventures has participated in the latest round of funding for Orange County lithium-ion battery maker Enevate. Alliance global vice-president of ventures and open innovation François Dossa said he thought the investment would help the Alliance “support the development of Enevate[‘s] proprietary cutting-edge electrode technology”. He claimed such tech would “help us accelerate the electrification of our vehicles”.

A company statement claimed Enevate’s batteries can be charged in just five minutes, but did not specify how much driving time could be achieved if they are charged for this length of time. It also boasted of the “high energy density and safety” its batteries can provide.

Enevate president and CEO Robert A Rango said his company was looking forward to receiving the Alliance’s money because “they are a global leader in EVs and they understand the market needs of EV consumers worldwide”. The move follows Alliance Ventures’ recent announcement that it is financing Montreal ride-sharing start-up Transit.

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