Solid-state batteries can potentially accelerate the global electric vehicle uptake as it offers a solution to most of the current issues with the technology, including range, charging, and safety.
This electric vehicle battery breakthrough supports higher energy density and longevity than conventional li-ion batteries. For context, it utilizes solid electrolytes’ thin layers carrying li-ions between electrodes. In contrast, li-ion batteries employ liquid electrolytes and separators blocking the positive electrode from meeting the negative electrode.
Interestingly, market research firm Fact.MR forecasts the global solid-state battery industry to surge 1,137% from this year to 2033, Fagen wasanni reports.
All that said, it would be unsurprising if major investors grow interest in this emerging battery tech.
Companies exploring solid-state battery development
American battery maker QuantumScape is among the progressive companies with major discoveries in solid electrolyte material development. For those unaware, it is a vital part of solid-state battery production.
As per the report, the company’s battery tech supports a driving range of up to 400 miles between charges. It also enables a charging speed of 15 minutes.
Moreover, Colorado-based firm Solid Power (SLDP) already secured significant partnerships with legacy automakers Ford and BMW for its battery technology. The German automaker enabled the battery maker to access its cell design and production process to aid it in developing a more advanced battery for its EVs. Meanwhile, Ford invested in the company as it expects it to aid it in cutting its battery costs by 40% by the middle of the decade.
As EV-a2z previously covered, Japanese auto giant Toyota strives to advance its solid-state battery development. It invested $13.6 billion in the battery tech’s R&D operation. It aims to launch its first-ever solid-state battery-based electric vehicle by 2025, increasing its other EVs’ driving range by twofold.
See Also:
- Solid-state battery innovation to revolutionize electric vehicles
- Solid-State NASA battery stacks all cells in one case, reaching 500 Wh/kg energy density
- EV battery market projected to surge fivefold to $616 billion globally in 2035
- US Department of Energy grants Solid Power over $5 million for Solid State batteries
- How EV-related stocks changed in January 2023
Solid-state batteries can arguably boost global electric vehicle adoption if it hits mass production. Since multiple companies are already racing to develop their own solid-state batteries, the technology will certainly emerge as one of the widely used chemistry for EV-grade batteries.
