This Breakthrough Tech Could Kill Gas Guzzlers
Answer this: What’s the biggest thing holding you back from getting an electric vehicle?
My guess is you don’t like the uncertainty of having to getting stranded on the road without a charge.
And you’re not alone.
Even though, Americans are warming up to the idea of EVs, only around 2% of vehicles sold in 2019 were electric.
There’s still major gripes about its practical use.
For instance, current Tesla batteries have a range of just over 200 miles. And they can take up to 40 minutes to charge on even the fastest road chargers.
That’s fine if you only commute back and forth from work every day. But what if you want to visit family in a different state or take a weekend vacation somewhere?
Something has to change EVs want to outsell their gas guzzling brethren.
Fortunately for us, a new battery tech will soon change the industry forever.
And propel EVs into the mainstream markets…
The Revolutionary Tech That Changes the Industry
Solid-state batteries are the next step in battery evolution.
Lithium-ion batteries power most modern electric vehicles.
The issue is they have a lot of problems. Not just range and charge times… but safety, lifespan and especially cost.
And until these issues are worked out, EVs will never become mainstream.
Solid-state batteries look to help resolve these issues and have a lot of advantages…
- Driving Range – Solid-state batteries have a higher energy density by a margin of 2-10 times the current rates. This means that the range of use drastically increases. Samsung’s announcement of its solid-state battery recently showed a range of 500 miles, twice the range of current lithium-ion models. And this is just the first iteration of a working battery. Newer models could increase the range by a wide margin.
- Charging Times – Solid-state batteries have been proven to charge up to 6 times faster than today’s lithium ion batteries. That takes a 40-minute charge time all the way down to 6 minutes.
- Price – Currently, a car battery makes up around half of the price of the car itself. Solid-state batteries are expected to cut down that cost by a lot. Not only are they cheaper to produce, but are also cheaper to run and require less replacing. Current estimates expect solid state batteries have a lifespan of five times that of current lithium-ion models.
For the consumer, all of these put together make electric vehicles a no-brainer.
You cut down on emissions, you save cost on gas…
And best of all, you don’t have to sacrifice any of the perks of having a normal vehicle.
Automakers Take Note
But that’s because Nikola has no real product of their own.
Solid-state makers on the other hand have the next step in battery tech.
And already we’ve seen huge investments from automakers in this field.
BMW invested $20 million in Solid Power to scale up the production of solid-state batteries — launching vehicles by 2025
Hyundai recently invested in Ionic Materials, a US based startup — expecting to have a commercial vehicle on the road by 2025.
And Toyota and Panasonic formed a joint venture to produce next-generation solid-state batteries for electric vehicles.
The current battery models are going to get outpaced by solid-state batteries.
And you’d be wise to invest in companies that are taking the next step.
To a bright future,