• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Wednesday, July 16, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

BMW and Ford to Lead Funding Round on Solid-State Battery Startup

by Meghana Kandra
May 5, 2021
in Business, Cars, Electric Vehicles, Startups
Reading Time: 3 mins read
0
BMW and Ford to Lead Funding Round on Solid-State Battery Startup

Solid Power's 22-layer, 20Ah all solid-state lithium metal cell compared to the company's first-generation 10-layer, 2Ah cell.

TwitterWhatsappLinkedin

While most companies shifting towards EVs are using lithium-ion batteries. Large corporations are exploring other options. Ford and BMW are going to lead a funding round of $130 Million on a solid-state battery start-up.

You might also like

Reddit Rolls Out Age Verification for UK Users Amid New Online Safety Rules

Hackers Take Over Elmo’s X Account, Post Anti-Semitic Slurs and Attacks on Trump

Pentagon Awards Contract to Elon Musk’s xAI Despite Ongoing Grok Chatbot Backlash

Solid Power now producing large form factor
Image credits- Green Car Congress

Furthermore, this involves different companies with partnerships and alliances. 

The Series B investment round

The companies are investing in Solid Power, a solid-state battery start-up that also includes Volta Energy Technologies. The Series B funding allows Solid Power to explore the options of odd in-house manufacturing capabilities. Also enabling it to progress towards supplying batteries to EVs in the future. 

Today, Solid Power announced a $130 million Series B investment round led by @BMW, @Ford and @VoltaLink. Ford and BMW have also expanded partnerships w/ Solid Power to secure all solid-state batteries for future EVs. pic.twitter.com/VNQn2ZupjD

— Solid Power (@SolidPowerInc) May 3, 2021

Chief executive and Co-founder of Solid Power, Doug Campbell said in an interview, 

” The partnerships and the capital that comes along with it are really going to put us on a good footing to execute on our road map, which simply speaking is qualifying this technology for vehicles in the not-too-distant future.”

This is not the first time a company has been working on a solid-state battery. Dyson claimed in 2018 that they will build EVs with solid-state batteries. However, by 2020 they will use a traditional battery for their first electric SUV with a 600-mile range. 

How is the Solid-state battery different?

Tesla’s accidents in the past have always caused concerns on the safety factor. The car crash in Houston, Texas in April needed 32 gallons of water. 

On the other hand, a solid-state battery uses a solid form of electrolyte. Unlike lithium battlers which use liquid or gel forms of electrolyte and are highly flammable.

How solid-state batteries can transform electric cars
Image credits- CNET

Furthermore, the solid-state battery involves high-capacity energy storage potential. As said by the company, Solid Power, the solid battery they are making offers high energy density and battery safety. As said by them, their battery has the capacity to deliver 50% more energy density than a traditional battery. 

On the contrary, this battery has more problems than seen. It is costlier and there is no guarantee yet if this can be used in real-life technology.

Previous attempts different from present

The earlier attempts have failed, but at that time there was a transition process going on. Moreover, Tesla which is ahead of its times would have worked on the technology if they saw some future scope. But more companies are interested in technology. 

The Series A funding included $26 million in 2018. Also, Hyundai Motor and Samsung are also involved in the funding rounds. 

As said by Ford’s chief, Hau Thai-Tang, ” We’ve been working with more than a dozen different start-ups in this space and we’ve been most impressed with the progress that Solid Power has made.” 

Dyson’s attempt in 2018 is much different. As more companies are showing interest in the technology. Also, the push towards shifting to electric vehicles is more than it has been in the past. 

By the end of this year, BMW is working towards having five fully electric models. Furthermore, by 2023, they plan to have fully electric vehicles for all the markets in all countries. 

Additionally, Toyota too says this technology is a “Game Changer”.

Tags: BMWFordSolid PowerSolid State Battery
Tweet54SendShare15
Previous Post

RTFKT Studios, a virtual fashion platform raises $8M in funding round

Next Post

Gemini has now added support for Dogecoin

Meghana Kandra

Meghana studied PGD in Journalism, open university. She has more than five years of experience in content writing, from creative content development to online journalism. Electric vehicle enthusiast, engineer, and feminist.

Recommended For You

Reddit Rolls Out Age Verification for UK Users Amid New Online Safety Rules

by Harikrishnan A
July 16, 2025
0
Surge in Reddit’s MOON Token Price Following Deflationary Strategy Unveil

Reddit has begun enforcing age verification for users in the United Kingdom in response to the country’s new Online Safety Act. The law, which is set to take...

Read more

Hackers Take Over Elmo’s X Account, Post Anti-Semitic Slurs and Attacks on Trump

by Harikrishnan A
July 16, 2025
0
Hackers Take Over Elmo’s X Account, Post Anti-Semitic Slurs and Attacks on Trump

The official X account of Elmo, one of Sesame Street’s most cherished characters, was hijacked on Sunday by unknown hackers who posted a barrage of hateful and conspiratorial...

Read more

Pentagon Awards Contract to Elon Musk’s xAI Despite Ongoing Grok Chatbot Backlash

by Harikrishnan A
July 16, 2025
0
Pentagon Awards Contract to Elon Musk’s xAI Despite Ongoing Grok Chatbot Backlash

Elon Musk’s AI startup, xAI, has secured a major federal contract, with the U.S. Department of Defense (DoD) announcing it will begin using the company’s “Grok for Government”...

Read more
Next Post
Dogecoin surges by 25% after Elon’s new tweet

Gemini has now added support for Dogecoin

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple Artificial Intelligence bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?