Solid-State Battery -Replacement For Conventional Liquid Lithium-Ion Batteries

11/4/2024 5:01:21 AM

(MENAFN- Straits Research) Introduction

Solid-state batteries are an emerging technology, finding widespread usage in pacemakers, RFID, and wearable devices. Solid electrodes and electrolytes are safe and have a high-energy-density compared to the conventional polymer gel electrolytes found in lithium-ion batteries. Solid-state batteries are expensive as they deploy costly materials such as oxides, sulfides, phosphates, polyethers, polyesters, nitrile-based, polysiloxane, polyurethane,and solid polymers. Solid-state battery technology facilitates faster charging with higher voltage and longer life cycles. They are thus rising as a potential alternative to conventional lithium-ion batteries in the future. Solid electrolytes are nonflammable; therefore have a lower risk of catching fire

Advantages such as high-performance and low-cost are making solid-state batteries an emerging trend for next-generation traction batteries. The market growth is further accelerated by higher electrochemical stability, higher potential cathodes, and higher energy densities. Though currently available solid-state batteries face a challenge in terms of operating life, research and development activities may help extend the operating life of solid-state batteries for more than three years in order for them to be fully commercialized for electric vehicles.

Uptake of Electric Vehicles

Electric vehicles are the fastest-growing segment in the global automotive and automobile market recently. Industry experts estimate that EVs will account for 10–12% of the total automotive sales by 2030. Favorable regulations have been put in place in Europe, China, and India for innovation and product development. Notable OEMs such as Honda and Volkswagen, Tesla, and others are taking the lead in this sector. Partnerships, collaborations and investments by Toyota, BMW, Hyundai, and others in technology development and battery material manufacturing are expected to accelerate the market growth. The fully commercialized solid-state battery-based electric vehicles are, however, expected to be launched by 2025

Key Highlights

Investments Made by OEMs in Solid-State Battery Development:

As a part of its target production of 1 million electric vehicles by 2025, German Company Volkswagen has invested USD 100 million in QuantumScape, a start-up working on the development of solid-state batteries
BMW has invested USD 20 million in Solid Power to scale up the production of solid-state batteries, expecting the launch of electric vehicles to be possible by 2025 with 12 different models
Toyota and Panasonic have collaborated to launch next-generation solid-state battery-based electric vehicles by 2020 for pilot projects. The company will have fully commercialized electric vehicles by 2030
Hyundai has invested in a US-based start-up, Ionic Materials, for the solid-state electrolyte material development. The Korea-based OEM is expected to commercialize solid-state battery-based electric vehicles by 2025

Competitive Players

Robert Bosch

Toyota Motor

Solid Power

Excellartion Solid State

Bright Volt

SK Innovation Co, Ltd

STMicroelectronics

Total Energies

Store Dot

QuntumScape Corporation

Factorial Inc

Gangfeng Lithium Co Ltd

Prieto Battery

Blue Solutions

ProLogium Technology

Recent Developments

April 2022 - SK Innovation signed a business agreement with the Korea Automotive Inspection and Warranty Association to establish evaluation standards for the use of car batteries.
March 2022 - QuntumScape Corporation announced that it would sell its solid-state batteries to a fourth carmaker.
January 2022 - Factorial Inc raised USD 200 million to accelerate the commercialization of its Novel Solid-state batteries for electric vehicles.

Segmentation

By Type

Thin Film Batteries

Bulk Batteries

By Capacity

Below 20mAh

20mAh–500mAh

Above 500mAh

By Category

Single-cell Battery

Multi-cell Battery

By Applications

Consumer and Portable Electronics

Electric Vehicle

Energy Harvesting

Wearable and Medical Devices

Others

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