BMW i Ventures announced in July that it was investing $11 million in a seed financing round for a California-based battery and technology developer, with hopes for advancing electric vehicle batteries domestically.
According to Autoblog, Estes Energy Solutions has a goal to configure batteries with the specific budget and range of transportation firms in mind. Furthermore, the company's focus on sourcing and manufacturing in the U.S. is paramount to the deal and is especially important in the wake of recent tariffs affecting the EV battery supply chain.
BMW i Ventures invests in new technology on behalf of BMW and its BMW i line, which caters to electric vehicles. A partner at the firm, Baris Guzel, commented on the seven-figure deal to Autoblog, saying: "What makes Estes different isn't just the unique technology — it's the people. This is a team that's been in the trenches, building rugged, high-density battery systems with real-world safety and scale in mind."
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The deal made by BMW i Ventures isn't the first eco-forward step by the BMW Group. Earlier this year, the company announced a new EV battery facility, as well as continuing to launch new electric models, fit for any driver's needs.
Guzel remarked on the deal with Estes, telling Autoblog: "We couldn't be more excited to partner with them."
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