Solid-state battery producer Solid Power announced a $130 million investment round led by Ford, BMW, and Volta Energy Technologies today. The two automakers have also expanded their joint venture with the battery manufacturer.
The investment comes with a view to preparing Solid Power to produce batteries at a scale and size large enough for automotive applications.
“BMW and Ford now share leading positions in the race for solid-state battery-powered electric vehicles,” said Doug Campbell Solid Power CEO. “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.”