QuantumScape's battery venture could ease the costs and conveniences of owning an electric vehicle, making it resemble owning an internal combustion engine vehicle. - Photo: Pexels by Mike

QuantumScape's battery venture could ease the costs and conveniences of owning an electric vehicle, making it resemble owning an internal combustion engine vehicle.

Photo: Pexels by Mike

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.

WSJ hot battery startup article

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