BMW Broadens Partnership With Battery-Maker Solid Power
- Carmaker to use solid-state cell tech at own pilot facility
- Solid-state batteries could offer alternative to lithium-ion
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BMW AG is deepening its partnership with Solid Power Inc. as it seeks to lock in an emerging battery technology that could help lower the cost of its electric vehicles.
BMW will pay Solid Power $20 million through June 2024 for the proprietary technology, including its solid-state electrode design and manufacturing expertise, the companies said Wednesday in a statement. The payments will be subject to meeting certain milestones.