BMW is strengthening its partnership with Colorado’s Solid Power Inc, a developer of advanced solid-state battery technologies.
The partnership will see BMW pay Solid Power $20 million through June 2024 for the proprietary technology, including the company’s solid-state electrode design and manufacturing expertise. Solid Power will retain its intellectual property over the electrolyte material it has developed.
“We look forward to working even more closely with Solid Power and adding the capability to produce solid-state cells based on Solid Power’s designs at our own pilot facility,” BMW management board member Frank Weber said. “We expect this agreement to accelerate the installation of our solid-state prototype line and our companies’ mutual goal of commercializing this promising cell technology.”
Solid-state batteries are viewed by many as the next frontier in electric vehicles, promising to dramatically reduce costs, increase charging speeds, and boost range. Solid-state batteries are also safer and said to be easier to produce.
Read: SP Expects To Send Solid State Test Batteries To BMW And Ford By End Of Year
BMW has long been interested in the emerging technology. In fact, it first invested in Solid Power in 2017 alongside Ford. In June, Solid Power said it would begin to ship Silicon EV Cells to its automotive partners before the end of the year, allowing them to be tested. Solid Power anticipates manufacturing up to 15,000 large-format sulfide-based cells per year and will ultimately work with partners, including SK Innovation, to produce batteries at a scale large enough to supply automakers.
BMW has previously promised to release a demonstrator vehicle using solid-state batteries well before 2025.
