SK Innovation recently took another step to stay on the cutting edge of electric vehicle battery technology by forming a partnership with Solid Power, a Colorado company that’s a global leader in all-solid-state batteries. The two companies plan to work together on next-generation EV batteries that are both safer and more energy dense, enabling EV drivers to go further on every charge.
As part of the agreement, SK Innovation and Solid Power will co-develop all-solid-state batteries. They also plan to validate that Solid Power’s all-solid-state-cells can be manufactured on existing lithium-ion battery manufacturing equipment.
In addition, SK Innovation committed to a $30 million investment in Solid Power, a company that’s attracting attention for leading this new area of battery technology. Earlier this year, Ford and BMW announced investments and development agreements with Solid Power.
The Next Big Leap for EV Batteries
The SK Innovation partnership with Solid Power focuses on what’s
considered by many industry experts to be the next major evolution of EV
batteries. Today’s lithium-ion EV batteries use a liquid or gel
electrolyte to store energy.
Solid Power replaces the liquid electrolyte with a proprietary
sulfide solid electrolyte. The all-solid-state batteries are more stable
across a broad range of temperatures and have higher energy density
compared to today’s batteries. These qualities have the potential to
create batteries that are less volatile, smaller and lighter, and able
to power an EV for longer driving ranges.
Part of SK’s Broader ESG Strategy
The partnership is another example of SK’s commitment
to advancing sustainability. Across a broad rand of industries, SK
group companies are transforming their businesses to support
environmentally friendly business models and technologies.
SK Innovation and its new EV battery spin-off, SK On, already are
poised to be among the top EV battery makers in the world. The SK
Battery America site in Commerce, Ga., is set to start mass producing EV
batteries next year with new factories planned for Tennessee and
Kentucky as part of a BlueOvalSK
joint venture with Ford.