BMW Group Strengthens Leadership Position in Battery Technology with Investment in Solid-State Innovator Solid Power

BMW:BMW Group Strengthens Leadership Position in Battery Technology with Investment in Solid-State Innovator Solid Power

 ### Start of joint Press Release from all partners involved ###

Louisville, Colorado, USA. Solid Power, an
industry-leading producer of all solid-state batteries for electric
vehicles, today announced a $130 million Series B investment round led
by the BMW Group, Ford Motor Company and Volta Energy Technologies.
Ford and the BMW Group have also expanded existing joint development
agreements with Solid Power to secure all solid-state batteries for
future electric vehicles.

The investment positions Solid Power to produce full-scale automotive
batteries, increase associated material output and expand in-house
production capabilities for future vehicle integration. The BMW Group
and Ford aim to utilize Solid Power’s low-cost, high-energy all
solid-state battery technology in forthcoming electric vehicles.

“BMW and Ford now share leading positions in the race for solid-state
battery-powered electric vehicles,” said Doug Campbell, CEO and
co-founder of Solid Power. “Solid Power now plans to begin producing
automotive-scale batteries on the company’s pilot production line in
early 2022 as a result of our partners’ continued commitment to Solid
Power’s commercialization efforts.”

Solid Power has demonstrated its ability to produce and scale
next-generation all solid-state batteries that are designed to power
longer range, lower cost and safer electric vehicles using existing
lithium-ion battery manufacturing infrastructure.

Solid Power’s leadership in all solid-state battery development and
manufacturing has been confirmed with the delivery of hundreds of
production line-produced battery cells that were validated by Ford and
BMW Group late last year, formalizing Solid Power’s commercialization
plans with its two long-standing automotive partners. 

“Solid-state battery technology is important to the future of
electric vehicles, and that’s why we’re investing directly,” said Ted
Miller, Ford’s manager of Electrification Subsystems and Power Supply
Research. “By simplifying the design of solid-state versus lithium-ion
batteries, we’ll be able to increase vehicle range, improve interior
space and cargo volume, deliver lower costs and better value for
customers and more efficiently integrate this kind of solid-state
battery cell technology into existing lithium-ion cell production processes.”

“Being a leader in advanced battery technology is of the utmost
importance for the BMW Group. The development of all solid-state
batteries is one of the most promising and important steps towards
more efficient, sustainable, and safer electric vehicles. We now have
taken our next step on this path with Solid Power,” said Frank Weber,
Member of the Board of Management BMW AG, Development. “Together we
have developed a 20 Ah all solid-state cell that is absolutely
outstanding in this field. Over the past 10 years BMW has continuously
increased the battery cell competence– important partners like Solid
Power share our vision of a zero-emission mobility.”

Solid Power is currently producing 20 ampere hour (Ah) multi-layer
all solid-state batteries on the company’s continuous roll-to-roll
production line, which exclusively utilizes industry standard
lithium-ion production processes and equipment.

Both Ford and the BMW Group will receive full-scale 100 Ah cells for
automotive qualification testing and vehicle integration beginning in
2022. Solid Power’s all solid-state platform technology allows for the
production of unique cell designs expected to meet performance
requirements for each automotive partner. Solid Power’s truly
all-solid cell designs achieve higher energy densities, are safer and
are expected to cost less than today’s best-performing lithium-ion
battery cells.

“Volta invested early in Solid Power when our team of energy and
commercialization experts found they had not only promising
technology, but also a fundamental focus on manufacturability. After
all, a breakthrough battery will not find a place in the market if it
can’t be produced at scale with acceptable costs,” said Dr. Jeff
Chamberlain, CEO of Volta Energy Technologies, a venture capital firm
spun out of the U.S. Department of Energy’s Argonne National
Laboratory focused on investing in breakthrough energy storage and
battery innovations. “The fact that Solid Power is already producing
multi-layer all solid-state batteries using industry-standard
automated commercial manufacturing equipment is why Volta is excited
to ramp up its earlier investment. The company’s partnership with BMW
and Ford will further accelerate the full commercialization of Solid
Power’s batteries and position both car companies to be among the
first to have EVs on the road powered by safer, affordable,
high-energy solid-state batteries.”

                   ### end of joint Press Release from all partners
involved ###

For the BMW Group, it is clear that high-performance and sustainable
energy storage systems are the key success factor for the individual
mobility of the future. The development of highly innovative and
sustainable battery cells is therefore one key element of the next
phase of transformation of the BMW Group.

The BMW Group is accelerating its development for the battery
technology of the future: This goal is also reflected in the Neue
Klasse, which the BMW Group first presented at its annual conference
in March. This new generation of vehicles, which will be launched by
the middle of this decade, will be uncompromisingly electric, digital,
circular – and clearly focused on all-electric drivetrains.

With the Neue Klasse, the BMW Group aims at the level of
state-of-the-art internal combustion engines in terms of range and
manufacturing costs. Therefore, electric mobility “engineered by
BMW” is intended to appeal to and convince new groups of buyers
worldwide. For this sixth generation of BMW e‑drive technology,
featuring the next level of Lithium-Ion batteries, the company
evaluates correspondingly different cell formats, cell chemistry and
also cell modules in the current development phase. A key goal is to
create truly green, low-carbon and recyclable batteries.

Solid-state battery for serial use – demonstrator vehicle well
before 2025

However, the BMW Group with its extensive in-house expertise in the
complete value chain of electric drive for years, is already planning
further into the future beyond this next generation:

By the end of the decade, the energy density of battery cells is
expected to increase by at least a mid-double-digit percentage range –
from an already high level today.

The battery cell of the future will be powerful, safe,
cost-effective, and recyclable – from material selection to
recyclability after the use in the vehicle. For the end of the decade
the BMW Group has announced an automotive-compatible all solid-state
battery for series production. A first demonstrator vehicle featuring
this technology will be on the road well before 2025.

Electric offensive in full swing

Thanks to intelligent vehicle architectures and a highly flexible
production network, the BMW Group will have around a dozen
all-electric models on the road as early as 2023.

In addition to the BMW i3*, MINI Cooper SE* and BMW iX3*, which are
already on the market, two key innovation drivers, the BMW i4* and the
BMW iX* will be put on the road this year– the BMW i4 even three
months earlier than originally planned.

In the coming years, all-electric versions of the high-volume BMW 5
Series and the BMW X1 will follow. In addition, there will be an
all-electric BMW 7 Series as well as the successor to the MINI
Countryman and other models. As early as 2023, the BMW Group will have
at least one all-electric model on the road in around 90 percent of
its current market segments.

By 2025, the BMW Group will increase sales of all-electric models by
an average of significantly more than 50 percent per year – more than
ten times more than in 2020. In total, the company will have delivered
around two million all-electric vehicles to customers by the end of 2025.

Based on current market expectations, the BMW Group is planning that
by 2030 at least 50 percent of its global sales will consist of
all-electric vehicles. In total, the company will bring about ten
million all-electric vehicles onto the road over the approximately
next ten years. This also means that the BMW Group is strategically on
target of achieving the EU’s ambitious CO2 reduction targets in 2025
and 2030.

The investment in Solid Power again demonstrates the BMW Group´s
capability to identify the leading tech start-ups and to join forces
on the way to achieve pathbreaking next generation technology. Various
BMW Technology scouting offices around the world, outstanding startup
accelerators, the BMW Startup Garage and BMW i Ventures, are always on
the lookout for leading edge or disruptive tech in an increasingly
competitive ecosystem.
As a result, BMW sets the standard for
successful start-up collaboration, venture funding and corporate investment.

 

In the event of enquiries please contact:

Corporate Communications

Bernhard Ederer, BMW Group Innovation Communications
Tel.: +49
(0) 176 601 28556, e-mail: bernhard.ederer@bmwgroup.com

Max-Morten Borgmann, BMW Group Corporate
Communications
Tel: +49 89 382-24118, e-mail: max-morten.borgmann@bmwgroup.com

Benjamin Titz, Head of BMW Group Design, Innovation &
Motorsport Communications
Tel.: +49 (0)179 – 743 80 88, e-mail: benjamin.titz@bmw.de

Media website: www.press.bmwgroup.com

Email: presse@bmwgroup.com

 

 

 

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Original Press Release