SK Innovation Partners with U.S. Leader in Next-Generation EV Battery Technology
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.
For more on the SK Innovation partnership with Solid Power, check out the press release on the SK Innovation news site: SK Innovation partners with Solid Power to co-develop and produce all-solid-state batteries.
