Solid-state batteries have long been seen as a way of improving the reliability and performance of electric vehicles.
One company positioning itself to lead the way is QuantumScape, which showed successful tests in December for a limited version of its solid state battery, the Wall Street Journal reported on Jan. 2. It has gained a market value of $44 billion, larger that that of Ford, and draws on financial backing from Volkswagen and Bill Gates.
A viable solid state battery could boost the fortunes of electric vehicles, which have been saddled with higher cost, less efficient lithium-ion batteries that come with some fire risk, the WSJ reports. Equipped with solid state batteries, EVs could finally cost the same as internal combustion engine (ICE) vehicles.