BMW Invests in Lithium Technology Startup Lilac Solutions

BMW Invests in Lithium Technology Startup Lilac Solutions
The logo of German car manufacturer BMW is seen on the company headquarters in Munich, Germany, on Dec. 5, 2019. Andreas Gebert/Reuters
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BMW said on Wednesday it will invest in lithium technology startup Lilac Solutions Inc to support more-efficient ways to produce the electric vehicle battery metal.

Privately-held Lilac is part of a growing number of technology developers seeking to extract lithium from saltwater brines faster, cheaper, and with less water than evaporation ponds, which have long been the industry standard.