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Solid Power, backed by Ford and BMW, begins pilot production of innovative EV battery with longer range and quicker recharging

Solid Power (US.SLDP), a Colorado-based battery start-up backed by BMW (DE.BMW) and Ford Motor (US.F), said it has begun pilot production of an innovative solid-state battery cell that promises to offer electric-vehicle owners more range and shorter recharging times at lower cost. Solid Power’s effort is one of several underway that aims to bring solid-state battery cells to market for use in electric vehicles. Its rivals range from public companies such as QuantumScape (US.QS) to private efforts funded by giants such as Toyota (US.TM). Solid Power’s advantage might be unique: While at least some rivals’ designs will require costly specialized factories, Solid Power said its batteries can be produced using the tooling and processes already in place in current factories making lithium-ion battery cells. The company expects to begin shipping batteries to its automotive partners, BMW and Ford, for testing in prototype vehicles by the end of this year, CEO Doug Campbell said — a key step in the “validation” process needed to supply batteries to automakers at scale. Campbell told CNBC that if all goes well, he expects the automakers to sign off on Solid Power’s battery design sometime in the first half of 2024.

solid power begins pilot production of solid state ev battery 2022