Hyundai Motor Co. pledged $100 million in U.S. solid-state battery startup SolidEnergy Systems (SES), joining Korean name SK and the U.S. peer General Motors to bet on next-gen battery power for EVs, Pulsenews Reports.
Founded in 2012, SolidEnergy Systems (SES), which was spun off from the Massachusetts Institute of Technology, develops anode-free lithium metal batteries.
In a Li-metal battery, the anode is replaced by an extremely thin lithium foil to enable energy density increase up to 1,000 Wh/ℓ versus 800 Wh/ℓ of a Li-ion battery.
A battery with higher energy density takes smaller space and helps to reduce the overall weight of EVs.
It can be cost-effective as well. A solid-state battery like a Li-metal battery does not require a battery separator as it uses solid electrolyte, unlike the current major Li-ion battery that uses liquid electrolyte. This reduces the cost as well as the battery volume.
SES had attracted equity investments from GM and SK Group of Korea.
With an aim to commercialize the Li-metal battery by 2025, the company is building a battery cell factory near Boston for completion in 2023 with GM.
