What is the future of solid-state batteries?
According to a recent report by Automotive News, automakers and suppliers are investing billions in solid-state battery technology that promises better safety, longer battery life, and improved energy density. The next generation of that technology promises faster charging, better energy storage and improved safety. Automakers have offered various dates for its arrival on the market. Chinese EV maker Nio thinks it will offer the technology by the end of 2022. Toyota and VW having invested a lot in solid-state batteries, both say they will have that technology in 2025. Others are looking further ahead, including Stellantis (2026), BMW (2026), Daimler (2028), Renault-Nissan (after 2026) and Hyundai (beginning in 2030). Ford and BMW are already equity owners of solid-state battery maker Solid Power. This technology will play an important role in bringing down battery pack prices, some thinking that they can be made at 40 percent of the cost of current lithium-ion batteries. Still, many experts believe there are several technical hurdles to be cleared, including high operating temperatures, electrolyte durability and manufacturing challenges.