Editorial & Advertiser disclosure

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

BMW to make Solid Power’s battery cells under expanded agreement

Published by Uma Rajagopal

Posted on December 22, 2022

Featured image for article about Top Stories

(Reuters) – Solid Power Inc said on Wednesday it will offer some intellectual property rights related to its solid-state batteries to BMW and allow production of the battery cells at the automaker’s facilities in Germany.

Colorado-based Solid Power will license the cell design and manufacturing processes to BMW, which will pay the company $20 million through June 2024, subject to certain conditions.

As part of the agreement, Solid Power will retain the intellectual property rights related to its electrolyte material, which it will supply to BMW once the carmaker’s battery production lines are up and running.

BMW, an investor in Solid Power, already has an agreement to receive finished battery cells.

Solid Power, which went public in December last year, is among a group of companies trying to create next-generation batteries for electric vehicles, aiming to solve some issues related to lithium-ion batteries that are currently is use.

Solid-state batteries use a solid electrolyte, compared with a liquid one in lithium-ion batteries, and have a lower risk of catching fire.

(Reporting by Yuvraj Malik in Bengaluru; Editing by Shounak Dasgupta)