Car manufacturers see solid-state batteries as the next generation of electric vehicle battery technology. Solid-state battery technology has great potential-higher safety, longer cruising range, shorter charging time, and ultimately lower achievable cost. Bloomberg New Energy Finance estimates that since the current cost of solid-state batteries is still relatively high, the technology will first be applied to high-end electric vehicles in the future, and then gradually extended to more mainstream models after 2030 as the cost decreases.
Source: Bloomberg New Energy Finance
Although solid-state batteries have not yet been used in production from the laboratory, this technology has already attracted a lot of interest from automakers. At present, almost all major electric vehicle manufacturers in the world have invested in solid-state battery start-ups or have established joint development partnerships with battery developers.
Toyota and Volkswagen plan to release the first electric vehicles equipped with solid-state batteries in 2025. Other manufacturers’ announcements are more conservative, saying they will launch products around 2030.
When it is first released in 2025, the price of a 100kWh solid-state battery pack is approximately US$15,000, while the price of traditional lithium-ion technology is US$7,700. Bloomberg New Energy Finance predicts that solid-state batteries will be the first to be used in high-end electric vehicles. Customers of high-end vehicles may be willing to pay the premium for solid-state batteries in order to obtain longer cruising range and higher safety.
The prices of solid-state battery packs and traditional lithium-ion battery packs will reach similar levels around 2033. Some media estimate that this situation may be realized as early as 2030. Some media predict that once the price of solid-state batteries drops to the level of lithium-ion batteries, they will soon be adopted by car manufacturers.
With more adoption of solid-state batteries, the demand for lithium batteries for pure electric vehicles in Europe and the United States may increase by 15-27% by 2035.
Some media predict that Europe and the United States will usher in the first limited-edition cars with solid-state batteries in 2025
Some media predict that the cost of solid-state batteries will drop to the same level as traditional lithium-ion batteries in 2032. 50% of the premium ratio of solid-state batteries at the beginning of the market.