The BMW Group will invest in US start-up Lilac Solutions to promote the environmentally friendly, resource-efficient extraction of lithium in its bid to make electric vehicles account for at least 50% of its global sales by 2030.

The company said it would invest the money through its venture capital fund, BMW i Ventures. The details of the investment have not been disclosed.

It explained that Lilac Solutions has developed and patented an ion exchange technology that will significantly improve efficiency, costs and sustainability by extracting from brine resources.

Additionally, it will now test the technology's potential to be scaled and industrialised in the mid-term.

If successful, stakeholders could use the technology with brines worldwide, even with a low lithium content.

Wolfgang Obermaier, senior vice president, Raw Materials, BMW Group, said innovative technologies provide better, more sustainable, and efficient access to raw materials.

Continuing, he said that by investing in start-ups, the BMW Group is speeding up the development of new technologies, stimulating competition and enabling smaller companies to access the market.

"By investing in Lilac Solutions, we are supporting technological progress in the field of lithium extraction, with a focus on responsible and sustainable methods," Obermaier said.