Solid Power has announced a $ 130 million Series B investment round led by the BMW Group and Ford Motor Company. The two groups have also expanded their existing agreements with Solid Power.
The main differences between solid-state batteries and lithium-ion batteries are higher energy density, greater safety and, potentially, lower cost. Today Solid Power manufactures 20 Ah solid-state batteries.
Thanks to the investment, Solid Power will increase production of the current battery line and expand production capacity for new battery versions. Already in 2022, the company will provide cells with a capacity of 100 A / h for testing the BMW Group and Ford Motor Company.
The first BMW solid-state demo vehicle will arrive before 2025. In addition, this technology will be ready for serial production by 2030.