China plans to invest more than 6 billion yuan in a government-led project to develop solid-state batteries with six firms eligible for state funding to work on the next-generation technology, according to China Daily.
From GreenergyDaily
China plans to invest more than 6 billion yuan in a government-led project to develop solid-state batteries with six firms eligible for state funding to work on the next-generation technology, according to China Daily.
Solid-state batteries hold the promise of improved safety, a longer lifespan and faster charging compared with conventional lithium-ion batteries that use flammable liquid electrolytes. But mass adoption remains some way off due to constraints in raw material availability, intricate manufacturing processes and the resultant high costs.
China is seeking to cement its lead in the global EV market after early and heavy investment in domestic supply chains helped it become the most cost-competitive battery and EV producer in the world, according to Reuters.
It is reported that those picked as potential participants in the project include battery makers CATL and Nio-backed WeLion New Energy Technology. BYD, as well as automakers FAW, SAIC and Geely have also been chosen.
Japan's Toyota Motor has said it plans to launch vehicles powered by solid-state batteries in a couple of years. Tesla has not detailed any solid-state development plans.