Reported 4 months ago
China is planning to invest more than 6 billion yuan ($830 million) in a government-led project to develop solid-state batteries in collaboration with six eligible firms, including CATL and Nio-backed WeLion New Energy Technology. Solid-state batteries offer enhanced safety, longer lifespan, and faster charging compared to traditional lithium-ion batteries, but widespread adoption faces challenges due to material constraints and high costs. China aims to strengthen its position in the global EV market by focusing on advanced battery technology, with potential participants also including BYD, FAW, SAIC, and Geely. The project seeks to drive innovation and competitiveness in the next generation of electric vehicles, as solid-state batteries are expected to play a crucial role in shaping the future of EV technology.
Source: YAHOO