Porsche is setting up a new joint venture with German battery maker Customcells to produce new battery packs for high-performance electric vehicles.

Porsche and Customcells are creating a new company, called Cellforce Group, with the German carmaker to invest a “double-digit million amount” in the joint venture, in which it will hold an 80 percent stake.

Porsche’s new subsidiary will be tasked with producing new high-performance battery cells. The chemistry of the new battery cells will rely on silicon as the anode material, which according to Porsche is the way to significantly boost a battery pack’s power density compared to today’s most power-dense batteries.

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The German carmaker says that the new battery chemistry will also reduce the pack’s internal resistance, allowing it to absorb more energy during recuperation and offer improved performance during fast charging. The new Cellforce battery cells can also withstand high temperatures much better than today’s batteries.

Porsche’s new joint venture has also chosen world-leading chemical company BASF as a development partner for the next generation of lithium-ion batteries. BASF will be providing high-energy cathode materials for the new cells that enable fast charging and high-energy densities.

“This joint venture allows us to position ourselves at the forefront of global competition in developing the most powerful battery cell and make it the link between the unmistakable Porsche driving experience and sustainability,” said Oliver Blume, Porsche’s Chairman of the Executive Board. “This is how we shape the future of the sports car.”