A recent $130 million Series B investment round for solid-state batteries was led by the BMW Group, Ford Motor Company, and Volta Energy Technologies. The companies are investing in Solid Power, a producer of solid-state batteries for electric vehicles. 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.
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. Solid Power says it now plans to begin producing automotive-scale batteries on the company's pilot production line in early 2022.
Solid Power is currently producing 20 ampere hour (Ah) multi-layer all solid-state batteries on the company'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.