New data has revealed that Koch Industries, built on oil and gas, is one of the nation’s top investors in battery technology development, outside of the automobile industry, reports the Wall Street Journal. Over the last 18 months, the company has reportedly invested at least $750 million into the U.S. battery supply chain and electric vehicle industry.
“It’s stunning just how many different battery supply chain players they’ve taken a stake in,” said Vivas Kumar, a former Tesla Inc. senior manager and industry analyst.
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