Ford and BMW Invest $130 Million in Solid-State EV Battery Development

Ford and BMW Invest $130 Million in Solid-State EV Battery Development

Ford and BMW are leading a $130 million investment in EV battery start-up Solid Power, the companies announced Monday. Solid Power makes solid-state batteries, which don’t use the liquid electrolyte found in the lithium-ion batteries used to power most electric vehicles. 

Why This Matters:  Car companies have long been allies of the fossil fuel industry. Now they are pivoting and expanding into EVs, not only pledging to reduce emissions but to go fully electric in coming decades.

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