Volta Technology to roll out solid-state batteries by early 2023, Auto News, ET Auto

 Image for representation only
Image for representation only

New Delhi: China-based battery manufacturer Volta Technology has announced its plan to roll out solid-state batteries from its pilot production line in Shenzhen in early 2023.

Solid-state batteries are referred to as ‘the next-generation battery product,’ which experts have noted are safer and more powerful than traditional lithium-ion batteries, Volta said in a release.

As per the battery maker solid-state batteries have twice the energy storage capacity of lithium-ion batteries. As a result, leading electric vehicle manufacturers are investing heavily in this technology. According to Volta Technology Limited, an electric vehicle with a solid-state battery can have a range of 600 plus kilometers or more.

Volta Technology had previously stated that it would commercially launch its solid-state batteries in late 2023. But the company’s pilot project is anticipated to accelerate the commercial release of the technology.

“Through stringent assessment of our technological viability, we are pleased to be able to speed up the timing for mass production. We are now aiming for mass-production of our completed product in early 2023,” said Chen Wong, Chief Executive Officer of Volta Technology.

Headquartered in Shenzhen, China, Volta Technology has assembled a growing team of dedicated engineers with a passion for chemistry and technology on a mission to revolutionize energy storage. The company strives to become the industry leader in developing solid-state batteries for the world’s largest electronic vehicle manufacturing companies.

“Our solid-state technology is almost perfect. We have invested heavily into our research and development over the past six years and, as a result, we are bringing our solid-state battery designs closer to production readiness,” added Patrick Lau, Chief Technology Officer at Volta Technology.

According to Volta Technology Limited, the global solid-state battery industry generated USD 0.5 billion in 2020 and is anticipated to generate USD 3.4 billion by 2030.

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The construction of the multi-gigawatt-scale greenfield Li-ion cell facility will be done in two-phases with phase one capex planned at INR 2,500 crore, the company said. Targeted to start over the next 3-4 four years, the plant would have an initial annual production capacity of 6 gigawatt hours (GWh), with a goal to increase to 12 GWh in 8-10 years.

The global battery materials market size was estimated at USD 50.28 billion in 2021 and is predicted to surpass USD 82.3 billion by 2030, growing at a CAGR of 5.63% from 2022 to 2030, as per a latest research by Precedence Research.

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