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BMW to Work with Solid-State Battery Supplier Solid Power by Spending US$20 Million on Patented Technology

published: 2023-01-05 9:30

BMW is currently expanding its partnership with Solid Power by spending US$20 million on the design and relevant production knowledge of the latter’s solid-state batteries before June 2024, though a certain milestones must be met at the same time.

According to the press release of the two companies, the new transaction between BMW and Solid Power does not include intellectual property such as electrolyte materials, which remain as the core technology of the latter.

Startups that are currently researching solid-state batteries include Solid Power and QuantumScape. This new technology is expected to introduce safer and cheaper li-ion batteries for EV manufacturers, with BMW and Ford both having invested in Solid Power.

BMW executive Frank Weber commented, “We look forward to working even closer with Solid Power, and increase solid-state batter production lines designed by Solid Power in our own pilot plants. We hope that this agreement is able to accelerate the installation of production lines for solid-state battery prototypes, and attain commercialization for the new technology.”

In order to develop a pristine EV platform, traditional auto manufacturers such as BMW, Benz, and Volkswagen have been successively signing agreements with battery manufacturers, material suppliers, and software companies as they are facing magnifying challenges in the increment of driving range and the reduction of cost.

 (Cover photo source: Flickr/Stephen Kruso CC BY 2.0)

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