Warner Bros. and Amazon are among dozens of major U.S. companies vying to build ‘killer’ energy storage systems
The company behind a new battery technology that could power the electric vehicles that drive many of the country’s cars is one of a dozen companies vying for an expansion of the $7.4-billion market for battery storage technology.
Warner Bros. is among dozens who are working on new energy storage products that could help drive the rapid expansion of electric vehicles, the company said Tuesday.
Amazon, which has already made a name for itself in electric vehicles with its Prime Now service, is also in the early stages of developing its own battery technology.
The company also has plans to produce its own batteries, the first of its kind.
The U.K.-based company said the development of battery technology would help its fleet of cars reach the speed of 80 mph by 2025.
The companies said the battery technology could be deployed in a range of vehicles including commercial vehicles, trucks and trains.
It said it would offer a range from 0 to 30 percent of the price of its battery products to help power the vehicles, but it would not disclose the pricing.
The battery technology will be tested in the U.N. climate change negotiations in Paris, France, in December.
The technology could help companies reduce energy consumption and reduce pollution, according to the company.
“There are huge opportunities for batteries that will dramatically improve energy security, reduce CO2 emissions, and provide cleaner and more sustainable transportation,” the company wrote in a blog post.