The Electric: Four New EV Battery Startups That Are Ignoring the Gloom Around Them

Ionic Minerals will use halloysite mined in these hills in Utah to make silicon anodes. Photo: Courtesy Ionic.

A bloodbath is happening in the electric vehicle battery industry: Most of the next-generation Western startups that gained favor in 2020 and 2021 are struggling to survive, and some have either filed for bankruptcy or shut down. But a new wave of battery startups, unfazed by the rubble around them, has raised millions of dollars from venture capitalists who claim the timing is now right for a blockbuster battery technology.