Solid State Battery Company Raises Investment From Ford and BMW

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The company is currently producing 20 ampere hour (Ah) multi-layer all solid-state batteries on the it’s continuous roll-to-roll production line

Solid Power, a producer of all solid-state batteries for electric vehicles has raised $130 million Series B investment round led by the BMW Group, Ford Motor Company and Volta Energy Technologies. Ford and the BMW Group have also expanded existing joint development agreements with Solid Power to secure all solid-state batteries for future electric vehicles.

“BMW and Ford now share leading positions in the race for all solid-state battery-powered electric vehicles,” said Doug Campbell, CEO and co-founder of Solid Power.

He added, “Solid Power now plans to begin producing automotive-scale batteries on the company’s pilot production line in early 2022 as a result of our partners’ continued commitment to Solid Power’s commercialization efforts.”

The company is currently producing 20 ampere hour (Ah) multi-layer all solid-state batteries on the it’s continuous roll-to-roll production line, which utilizes industry standard lithium-ion production processes and equipment. Both Ford and the BMW Group will receive full-scale 100 Ah cells for automotive qualification testing and vehicle integration beginning in 2022.

“Solid-state battery technology is important to the future of electric vehicles, and that’s why we’re investing directly,” said Ted Miller, Ford’s manager of Electrification Subsystems and Power Supply Research.

Miller added,”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.”

“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,” said Frank Weber, Member of the Board of Management BMW AG, Development.

Weber added,”Together we have developed a 20 Ah all solid-state cell that is absolutely outstanding in this field. Over the past 10 years BMW has continuously increased the battery cell competence– important partners like Solid Power share our vision of a zero-emission mobility.”

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