The OEMs are also making strategic investments in innovative startups in the space. In 2021, GM invested $139 million in a series D round raised by SES, a hybrid lithium battery start-up. Similarly, Ford, BMW, and Volta Energy have invested $130 million in a series B round raised by Solid Power. This year, Factorial Energy has raised $200 million as a part of a series D round led by Mercedes-Benz and Stellantis. These investments would act as a shot in the arm for the EV battery space in the US, boosting the lithium-ion cell manufacturing capacity between 2021 and 2025, to 382 GWh, per S&P Global Commodity Insights. More importantly, these investments will spur the private sector to come up with new technologies that will help offset China?s natural advantage in Lithium production and, at the same time, accelerate the shift to EVs.