BMW and FORD to invest in a Start-up named Solid-State and will use its battery technology in their upcoming electric vehicles.
Ford and BMW are investing $130 million in solid-state battery startup Solid Power in a push to reduce the cost and increase the range of their future electric vehicles. Ford initially contributed to an earlier investment round in 2019, and both automakers have joint agreements to use the technology in upcoming electric vehicles that will arrive by 2030.
Ford and BMW are investing $130 million in solid-state battery startup Solid Power in a push to reduce the cost and increase the range of their future electric vehicles. Ford initially contributed to an earlier investment round in 2019, and both automakers have joint agreements to use the technology in upcoming electric vehicles that will arrive by 2030.
Solid Power will begin production of the automotive batteries early next year, according to Doug Campbell, CEO, and co-founder of Solid Power. They'll be used for the testing and development of upcoming Ford and BMW vehicles starting then, too. Ford announced last week that it's opening a $185 million lab called "Ford Ion Park" next year to develop new processes for producing these solid-state battery packs in-house.
Ford just launched the Mustang Mach-E electric crossover, of which it has sold 6614 so far this year, and the electric F-150 Lightning will arrive next year. BMW currently has the electric i3 on sale in the U.S. and the i4 sedan and iX crossover will arrive soon. It says that its new generation of electric vehicles will launch in the middle of the decade. A prototype car with the technology will be on the road by 2025, BMW says.
-by Amaan Attar
Source - Caranddriver
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