Leading automakers Ford and the BMW Group have expanded their existing joint development agreements with Solid Power, a company that produces solid-state rechargeable batteries for electric vehicles and mobile power markets. Alongside the battery maker has announced a $130 million Series B investment round led by the two OEMs and Volta Energy Technologies.
The investment positions Solid Power to produce full-scale automotive batteries, increase associated material output and expand in-house production capabilities for future vehicle integration. The battery maker plans to commence production of automotive-scale batteries on the company's pilot production line in early 2022.
Both Ford and the BMW Group will receive full-scale 100 Ah cells for automotive qualification testing and vehicle integration beginning in 2022.
Both the OEMs aim to utilise the low-cost, high-energy all-solid-state battery technology in forthcoming electric vehicles.
Ted Miller, Manager, Electrification Subsystems and Power Supply Research, Ford, said, 'Solid-state battery technology is important to the future of electric vehicles, and that's why we're investing directly. By simplifying the design of solid-state versus lithium-ion batteries, we'll be able to increase vehicle range, improve interior space and cargo volume, deliver lower costs and better value for customers and more efficiently integrate this kind of solid-state battery cell technology into existing lithium-ion cell production processes.'
Frank Weber, Member of the Board of Management BMW AG, Development, said, 'Being a leader in advanced battery technology is of the utmost importance for BMW. The development of all-solid-state batteries is one of the most promising and important steps towards more efficient, sustainable, and safer electric vehicles. We now have taken our next step on this path with Solid Power. Together we have developed a 20 Ah all-solid-state cell that is absolutely outstanding in this field. '