Finally, Sunwoda is greatly benefitting from the growth of the startup Leap Motor, which it is the main battery supplier for. With the EV market continuing to grow fast, and average battery size increasing, expect the battery market to continue growing even faster, with +/-50% growth rates likely in the next couple of years.
In 2018, the Renault-Nissan-Mitsubishi Alliance announced a significant investment of US$26 billion to develop solid-state batteries. This collaboration leverages the combined expertise of these three automotive giants, potentially accelerating progress in solid-state battery development.
It is backed by industry giants like Mercedes Benz, Stellantis, Kia Motors, Hyundai Motor Company, Gatemore Capital Management, Eden Rock Group, and WAVE Equity Partners. Investments in Solid State Batteries are boosting. Battery makers as well as automotive companies like Toyota, Nio, BMW, and Volkswagen, are investing in SSBs technology.
Solid-state batteries are becoming more popular among EV manufacturers. Here's everything you should know about them. SolidEnergy Systems (SES), founded in 2012 by Dr. Qichao Hu, is a company focused on developing and manufacturing next-generation lithium metal batteries.
Solid-state battery technology is being hailed as a potential game-changer for the electric vehicle (EV) industry. It promises significant advantages over traditional lithium-ion batteries, including better energy storage, faster charging times, and improved safety.
Still, the top three battery makers are responsible for two thirds (66%) of the total battery deployment, which highlights the importance of scale in this business, in order to have the most competitive product on the market. Panasonic, once upon a time a leader in the automotive EV business, has continued its slow slide down the table.