BMW AG has partnered up with battery developer Solid Power. The partnership is intended to develop batteries for BMW’s next-generation battery-electric vehicles using new solid-state battery packs.
Reports thus far are referring to the deal as a partnership, but financial terms of the deal have not been disclosed. Based in Louisville, Colorado, Solid Power has been in business since 2012 and specializes in the development of solid-state battery systems.
Solid Power reports BMW will assist the company in achieving performance targets that meet the objectives of high performance electric vehicles. Meanwhile, Solid Power will assist BMW in developing solid-state battery packs.
Many automakers, including Toyota, have called solid-state batteries “game changers” for electric vehicles. Solid-state systems replace the gel or liquid based lithium-ion batteries currently utilized by nearly every electrified vehicle. In addition to offering higher capacity, solid-state batteries also eliminate many of the safety features required on today’s packs, such as expensive cooling systems.
Details as to win the fruits of BMW and Solid Power’s partnership will find their way to market have not been disclosed. Other automakers working on solid-state batteries have said they will not hit the market until early in the next decade at the earliest.