Solid Power, BMW partner to develop next-generation EV batteries

December 18, 2017

(Reuters) – U.S. EV battery company Solid Power said on Monday it had partnered with Germany’s BMW AG (BMWG.DE) to develop the next-generation solid-state battery technology for use in electric vehicles (EVs).

BMW will assist in advancing Solid Power’s technology to achieve performance levels required for high-performance EVs, Louisville, Colorado-based Solid Power said in a statement.

Financial terms of the deal were not disclosed.

All solid-state battery technology is a high-capacity energy storage device that improves on today’s lithium-ion batteries, replacing the liquid or gel-form electrolyte with a solid, conductive material. Among other benefits, the new technology offers more capacity and better safety.

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