Solid state battery could change the electric vehicles industry

The automotive makers are increasing their investment in solid-state batteries to achieve a long run for electric vehicles, which may replace gasoline vehicles in near future.

Many experts believe that electric vehicles will be an important medium for transportation. It may be a more sustainable medium for transport compared to others. But the important question is which type of battery will feature electric vehicles to run longer. Now market players are increasing their R&D activities in solid-state batteries over the older lithium-ion battery.

Lithium-ion batteries are used at a large scale in various consumer electronics such as smartphones, laptops, and other electronic devices. Nowadays, electric vehicles are also using these lithium-ion batteries to fuel them. Lithium-ion batteries use a liquid electrolyte, which makes them heavier and more vulnerable to instability at high temperatures.

Liquid electrolytes are more vulnerable than solid electrolytes. Lithium-ion battery uses liquid electrolyte which may raise safety concern and have a flammable nature where solid electrolytes are not vulnerable so far. The solid-state battery uses solid electrolytes which are low flammable and contain a high energy density. The use of solid-state batteries may change the electric vehicle industry and the market players are increasing investments in research activities to cut down the solid-state battery price.

Solid-state batteries could be a game-changer for electric vehicles (EVs) by storing more energy, charging faster, and offering more safety compared to liquid lithium-ion batteries, helping to move away from fossil fuel-powered cars.

Market Snapshots:

The increasing penetration of smartphones, wearable devices, and other electronic gadgets is increasing the demand for solid-state batteries around the world. The growing demand for wearable devices such as smartwatches and smart bands, and the growing demand for compact and high-performance batteries by the healthcare industry is driving the demand for solid-state batteries. The pacemaker uses solid-state batteries due to its high performance. The market for solid-state batteries is estimated to register a significant CAGR of over 35% in next upcoming years.