Solid state batteries are widely seen as the next generation of battery technology that can outperform current lithium-ion batteries on multiple fronts. With the accelerating shift towards electric vehicles globally, solid state battery technology has attracted tremendous interest from investors. In this article, we provide an in-depth analysis on the leading players in solid state battery development and assess their investment prospects. Factors like technological competitiveness, production capability, strategic partnerships and financial strength are evaluated to identify the most promising solid state battery companies to invest in.
Toyota leads in solid state battery R&D and aims for commercialization
As an automotive pioneer, Toyota has been at the forefront of solid state battery R&D for over 25 years. It aims to realize commercialization of all-solid-state batteries by 2025. Toyota’s proprietary sulfide-based solid electrolytes deliver 2.5 times the conductivity of conventional lithium-ion batteries. With expertise spanning materials, cell design and production engineering, Toyota is uniquely positioned to be the first to mass produce solid state batteries. Its ambitious timeline and technical depth make it a leading contender for solid state battery investment.
QuantumScape’s partnerships with major automakers validate its solid state batteries
Founded in 2010, QuantumScape is one of the most promising startups in solid state batteries. Its partnerships with Volkswagen, Mercedes and Hyundai provide strong validation of its battery technology. QuantumScape’s solid state batteries claim to increase range by up to 80% compared to lithium-ion batteries. Fast charging to 80% capacity in 15 minutes is another key advantage. With funding from Volkswagen and Bill Gates, QuantumScape has raised over $1.5 billion to date. Its plan to begin pilot production in 2024 positions it well to capitalize on the electric vehicle boom.
CATL leverages its lithium-ion leadership into solid state battery development
As the world’s largest lithium-ion battery manufacturer, China’s CATL is making major investments into solid state battery R&D. It aims to have samples ready by 2023 and start mass production by 2026. CATL’s expertise in lithium-ion battery production and its partnerships with almost every major automaker give it an edge. CATL also benefits from strong government funding and policies promoting electric vehicle adoption in China’s vast domestic market. For investors, CATL provides a relatively safe bet to gain exposure to solid state battery commercialization backed by its lithium-ion leadership.
Samsung SDI and LG Energy Solution race for next generation batteries
Rounding out the big players in solid state batteries are the Korean giants Samsung SDI and LG Energy Solution. With strengths in battery materials, manufacturing and integration with automakers, Samsung SDI and LG Chem are pouring resources into solid state technology. Both companies are targeting commercialization around 2027-2028. As incumbents firmly entrenched in lithium-ion batteries, Samsung SDI and LG Energy Solution’s moves into solid state batteries make them stocks worth watching closely.
In summary, Toyota, QuantumScape, CATL, Samsung SDI and LG Energy Solution stand out as the top solid state battery companies to invest in. With automakers accelerating their electric transition globally, huge market potential awaits the leader who successfully commercializes solid state battery technology first. Their technological leadership today will translate into a dominant position capitalizing on the electric vehicle revolution in the future.