Which companies are investing in solid state batteries?

It is backed by industry giants like Mercedes Benz, Stellantis, Kia Motors, Hyundai Motor Company, Gatemore Capital Management, Eden Rock Group, and WAVE Equity Partners. Investments in Solid State Batteries are boosting. Battery makers as well as automotive companies like Toyota, Nio, BMW, and Volkswagen, are investing in SSBs technology.

What is solid-state battery technology?

Solid-state battery technology uses a solid electrolyte instead of the liquid electrolyte used in traditional lithium-ion batteries, resulting in higher energy density, faster charging times, and improved safety.

Which automakers are leading the way in solid-state battery technology?

Volkswagen is another automaker leading the way in solid-state battery technology. They recently entered a partnership with QuantumScape, a solid-state battery technology company, to the tune of $300 million, to develop electric vehicles powered by solid-state batteries by 2024.

Are solid state batteries a good investment?

Investments in Solid State Batteries are boosting. Battery makers as well as automotive companies like Toyota, Nio, BMW, and Volkswagen, are investing in SSBs technology. Moreover, Solid State Battery startups are also collecting funding to improve SSBs for different applications.

How are solid state batteries made?

During the creation of these batteries, suitable production tools are required for highly precise material deposition. Solid-state batteries are made by systematically arranging electrodes separated by solid electrolytes. These non-porous solid electrolytes must be able to prevent dendrite growth between electrodes.

What is a solid state battery?

In a solid-state battery, the make-up is simplified. The liquid is replaced by a solid block, which is lighter than its counterpart and can carry more energy within the same capacity. The solid element is also less reactive than the liquid, so it’s much less likely to ignite if punctured or heated.