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Venture capital6 min read

Exclusive: ‘I’ve seen this movie before’: A Michigan-raised ex-Tesla exec raises $45 million to break China’s grip on batteries

"We will not be able to out-China China,” Holyvolt COO Steven Prast told Fortune. “They’re the world champions at being China.”

By Nick LichtenbergFortune AI
Exclusive: ‘I’ve seen this movie before’: A Michigan-raised ex-Tesla exec raises $45 million to break China’s grip on batteries

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Originally published by Fortune AI on Oct 15, 2026.

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