Solid Power is developing a new low-cost, all-solid-state battery for EVs with greater energy storage capacity and a lighter, safer design compared to lithium-ion batteries. Conventional batteries are expensive, perform poorly at high temperatures and require heavy protective components to ensure safety. In contrast, Solid Power’s liquid-free cells store more energy for their size and weight, but use non-flammable and non-volatile materials that are stable high temperatures. This results in improved safety in the event of a collision or fire. Additionally, Solid Power plans to use low-cost, abundant materials in the range of $10-$20/kg that could reduce battery manufacturing costs, to help drive down the cost of EVs.
If successful, Solid Power’s solid-state battery would reduce battery costs and offer manufacturers greater flexibility with regard to battery placement and vehicle design.
The mass adoption of EVs would diminish the demand for petroleum, dramatically reducing U.S. dependence on foreign oil.
Greater use of EVs would reduce U.S. greenhouse gas emissions, 28% of which come from the transportation sector.
Technological advancements from the RANGE program could enable EVs to travel significantly further on a single charge at a much lower cost than that of current EVs and conventional vehicles.