Solid Power is working with Ford Motor Company to develop all-solid-state batteries for the next generation of electric vehicles. Compared with the current industry standard lithium-ion batteries, solid-state batteries have better performance and higher safety. The cooperation will focus on the development of all-solid-state batteries that meet automotive application requirements, and make full use of Solid Power's first fully automatic, roll-to-roll technology production facility. It is expected to be fully operational in the second quarter of 2019.
In September 2018, Solid Power announced that it had raised $ 20 million (about 130 million yuan) in a Series A round of financing. Subsequently, Ford participated in the company's next round of financing. This financing investors also include Volta Energy Technologies, Hyundai CRADLE, Samsung Venture Investment Corp., Sanoh Industrial Co. , Solvay Ventures, and A123 Systems. In December 2017, Solid Power announced a partnership with the BMW Group to jointly develop solid-state batteries for electric vehicles and customize Solid Power's technology to meet the requirements of high-performance electric vehicles.
Due to the removal of the flammable liquid electrolyte, Solid Power's all-solid-state battery is safer than lithium-ion batteries. Therefore, the cost of the entire battery system can be reduced by reducing dependence on engineering solutions, which are deployed in lithium-ion battery systems to ensure that the battery pack can operate safely.
The advantages of Solid Power all-solid-state batteries are as follows:
1.Compared with current lithium-ion batteries, the energy is increased by 50%. And because of the simple design, the energy of the battery module or battery pack can be increased;
2.Safety is greatly improved due to the removal of flammable liquid electrolytes for lithium-ion batteries;
3.Battery pack design cost is low: due to minimizing safety facilities (reducing engineering solutions deployed in lithium-ion batteries); simplified thermal management system; adopting automated, industrial-grade roll-to-roll production technology, improving productivity.