Solid Power licenses all-solid-state battery technology to BMW

Dec. 28, 2022
This licensing agreement will cost the BMW Group $20 million and does not include access to Solid Power's electrolyte material.

Solid Power, Inc. is expanding its partnership with the BMW Group. According to the company, the agreement grants BMW a "research and development license," which gives the car manufacturer access to the design and manufacturing method of Solid Power's all-solid-state batteries. This licensing agreement will cost the BMW Group $20 million and does not include access to Solid Power's electrolyte material. BMW will produce these cells at its German factory once its workers have been trained on the manufacturing processes by Solid Power.

In a recent quote, Frank Weber, Member of the Board of Management BMW AG, Development, said, “BMW remains committed to the pursuit of all-solid-state batteries, a technology which we believe has significant potential for the future. We look forward to working even more closely with Solid Power and adding the capability to produce solid-state cells based on Solid Power’s designs at our own pilot facility. We expect this agreement to accelerate the installation of our solid-state prototype line and our companies’ mutual goal of commercializing this promising cell technology.”

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