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    BMW   DE0005190003


Delayed Xetra  -  11:44 2022-08-08 am EDT
78.10 EUR   +1.94%
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Solid Power aims to ship first solid-state battery cells by year-end to BMW, Ford

06/06/2022 | 08:12am EDT
FILE PHOTO: The logo of an electric car is painted on the road during the opening ceremony of the first Latin American public charging station

(Reuters) - Solid Power, a developer of solid-state batteries for electric vehicles, aims to begin shipping pre-production battery cells by year-end for validation testing by partners BMW and Ford Motor, the company said on Monday.

In an interview, Doug Campbell, Solid Power's chief executive and co-founder, said the Colorado company has set up a pilot production line to provide validation samples to automakers while looking for a manufacturing partner to begin producing its cells as early as 2026.

One prospective partner, he said, is Korea's SK Innovation, which is building joint-venture battery plants with Ford in Tennessee and Kentucky.

"Long term, we do not endeavor to be a cell producer," he said.

Campbell said Solid Power has sufficient pilot production capacity to provide prototype battery cells to other vehicle manufacturers, but declined to provide specific detail.

The company, which went public through a reverse merger in 2021, drew early investments from Hyundai and Samsung, in addition to Ford and BMW.

Campbell acknowledges the intense competition in solid-state battery development among the "big boys - groups like Toyota, Panasonic, Samsung, LG Energy Solution, Hyundai and CATL."

"We're in a space among a lot of very prominent and credible players," he said.

Like most of those companies, Solid Power's battery cell features a sulfide-based solid-state electrolyte, the medium through which lithium ions flow between positive and negative electrodes during charging and discharging.

Battery cells with solid-state electrolytes have a significantly lower risk of catching fire from internal shorts than those with liquid electrolytes.

Campbell said Solid Power's cells, which currently use silicon-rich anodes and nickel-cobalt-manganese cathodes, have the potential to hold more energy - thus providing electric vehicles with longer range - and cost less than conventional lithium-ion batteries.

Solid Power also has designed its solid-state cells to be compatible with current lithium-ion manufacturing processes.

(Reporting by Paul Lienert in Detroit; editing by Barbara Lewis)

By Paul Lienert

© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BMW AG 1.94% 78.1 Delayed Quote.-13.43%
ENDEAVOR GROUP HOLDINGS, INC. -1.57% 23.83 Delayed Quote.-30.61%
FORD MOTOR COMPANY 3.14% 15.78 Delayed Quote.-26.34%
HYUNDAI CORPORATION 1.19% 16950 End-of-day quote.0.89%
HYUNDAI MOTOR COMPANY 0.77% 196000 End-of-day quote.-6.22%
LG ENERGY SOLUTION, LTD. 0.22% 447000 End-of-day quote.0.00%
PANASONIC CORPORATION 0.09% 1121.5 Delayed Quote.-11.42%
SAMSUNG ELECTRONICS CO., LTD. -1.14% 60800 End-of-day quote.-22.35%
SK INNOVATION CO., LTD. 5.39% 195500 End-of-day quote.-18.03%
SOLID POWER, INC. -1.79% 6.6 End-of-day quote.-24.49%
TOYOTA INDUSTRIES CORPORATION 0.38% 7910 Delayed Quote.-14.25%
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Sales 2022 132 B 135 B 135 B
Net income 2022 14 397 M 14 714 M 14 714 M
Net cash 2022 26 094 M 26 668 M 26 668 M
P/E ratio 2022 3,41x
Yield 2022 9,26%
Capitalization 51 151 M 52 275 M 52 275 M
EV / Sales 2022 0,19x
EV / Sales 2023 0,18x
Nbr of Employees 118 909
Free-Float 57,5%
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Nicolas Peter Group Leader-Corporate Finance
Norbert Reithofer Chairman-Supervisory Board
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