- Write by:
-
Tuesday, June 7, 2022 - 13:11:37
-
487 Visit
-
Print
Mining News Pro - Solid Power Inc., the battery startup that went public in a reverse merger last year, has begun operating a new pilot line, putting it on pace to deliver sample cells to automotive partners by year-end.
Shares of Solid Power fell 4.8% at 2:35 p.m. in New York, extending their year-to-date drop to 17%. A lock-up period on 104.5 million shares owned by early investors and company founders expires Monday, according to Solid Power.The Louisville, Colorado-based company says it will deliver test cells of at least 60 amp-hours to Ford Motor Co. and BMW AG, which are investors and development partners. If Solid Power’s technology meets certain performance targets, it could be considered for a supply contract with the automakers.
This “firmly plants us on that path to formal automotive qualification,” Chief Executive Officer Doug Campbell said in an interview. It will take a couple more quarters to “iron out” problems and ramp up production, he cautioned.
Solid Power and rivals such as QuantumScape Corp. and SES Holdings Pte are developing technology to enable solid-state batteries, which could dramatically speed up electric vehicle adoption by providing automakers with a safer, cheaper alternative to lithium-ion batteries.
Solid Power eventually hopes to move away from cell manufacturing and focus just on its key intellectual property — a solid-state electrolyte that it says can extend the range of EV batteries while also making them safer.
“That is actually our business long-term,” Campbell said. “We would hand off cell production, and leave us laser focused on essentially being a battery materials company.”
All electric cars today use a liquid electrolyte, a key material that helps shuttle ions back and forth smoothly in a battery to produce electricity, but increases the risk of fire. Moving to a solid electrolyte could enable the use of battery materials that would greatly enhance the range of an electric car, while reducing the risk of fire.
QuantumScape and SES are also targeting delivery of so-called A sample cells to prospective customers by year end. Battery manufacturers have to submit several different versions of prototype cells to be tweaked and tested by automakers in a yearslong process that can eventually lead to a supply contract.
Shares of Solid Power fell 4.8% at 2:35 p.m. in New York, extending their year-to-date drop to 17%. A lock-up period on 104.5 million shares owned by early investors and company founders expires Monday, according to Solid Power.
Short Link:
https://www.miningnews.ir/En/News/621455
Copper’s lightning rally to record highs may not be sustainable in the coming weeks, with action concentrated on the ...
Over three decades, Jose Luis Manzano built a reputation for diving into distressed sectors in Argentina and navigating ...
South Korea has started building its lithium inventories to secure supplies of the critical mineral that’s crucial for ...
Gold touched a new record of $2,450 an ounce on Monday as increasing optimism over the Federal Reserve’s monetary policy ...
The copper rally turned ugly this week, morphing into a ferocious short squeeze on the US contract operated by CME ...
Chinese carmaker BYD Co has postponed plans to produce lithium cathodes for electric vehicle (EV) batteries in Chile by ...
Copper futures in New York rallied to a record high after a short squeeze that’s prompted a scramble to divert metal in ...
China’s CMOC Group Ltd. is being accused by a top US official of using “predatory” tactics to depress prices of a key ...
A Native American group said on Tuesday it will take its fight against Rio Tinto’s proposed Arizona copper mine to the ...
No comments have been posted yet ...