There have been several positive developments announced recently related to the development of solid-state batteries technology for electric vehicles. Investors and automakers are excited about the next “disruption” of lithium-ion battery technology, which is smaller and safer. They can charge more rapidly and drive further on a single charge.

Solid State Batteries: The Next Revolution

According to the Financial Times, Toyota, the world’s largest automaker, has recently indicated that it is close to a manufacturing breakthrough in solid-state batteries with a range of up to 745 miles, so no more range anxiety for drivers. Toyota’s solid-state battery technology could be on the road as early as 2027.

EV battery manufacturers are in a race to produce solid-state batteries that are cost-effective, longer-range, and rechargeable in as little as 10 minutes. Those metrics are “super disruptive” and could shake up an industry now dominated by Tesla and China’s CATL and BYD. There also could be some geopolitical ramifications as well, threatening China’s dominance in the EV battery and battery metals space.

According to the IAE, China produced 75% of EV batteries last year. CATL, the world’s largest battery maker, claims a 37% market share. In response to these statistics, the Biden administration is pushing for more domestic battery manufacturing. US startup Factorial Energy just launched a new solid-state battery factory in its home state of Massachusetts.

The Manufacturer Angle

Among manufacturers, Toyota is not the only company in the solid-state battery race hoping to leapfrog China. Other Japanese auto manufacturers, such as Nissan and Honda, are on the solid-state bandwagon. In South Korea, its leading battery producers, LG Energy Solutions, Samsung SDI, and SK, are also on a path to develop solid-state battery solutions by the late 2020s. US public startups QuantumScape and Solid Power have partnered with German auto manufacturers Volkswagen and BMW on furthering solid-state battery technology. And don’t count China out either: Beijing-based WeLion appears to be in the solid-state battery lead, partnering with Chinese EV maker NIO.

Even NASA is working on solid-state battery technology, hoping it could push the boundaries of energy storage, “revolutionizing air travel.”  NASA has developed a new solid-state sulfur selenium battery capable of powering planes with electricity instead of gas.