Bucking EV slowdown, Sila raises $300M to expand battery materials factory

Battery materials startup Sila announced Tuesday that it raised $300 million to expand its factory in Washington State to produce enough anode material for more than 100,000 EVs.

Sila’s expansion arrives as electric vehicle demand in the U.S. has softened in the wake of the Trump administration’s efforts to hamstring the propulsion technology. While sales remain depressed in the U.S., down this year relative to 2025 when demand spiked before the sunset of tax credits, EVs are taking a bigger slice of the market elsewhere. According to Benchmark Minerals Intelligence, global sales are up 27% year over year.

Sila previously announced deals to supply its anode material to Mercedes and Panasonic. It also sells to consumer electronics companies such as Whoop as well as drone manufacturers, and satellite companies.

Most lithium-ion batteries today using graphite anodes, and Chinese companies control about three-quarters of the supply chain, accordingto...

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