Solid state battery stocks to buy12/31/2023 ![]() ![]() Part of the report included GM's plans to build a new supply chain for batteries and EV components through strategic supplier agreements. ![]() General Motors CEO, Mary Barra announced that the company would be investing $7 billion in four different factories, two of which would be dedicated to electric vehicles and batteries alongside most of the capital. General Motors is another automaker looking to break into solid-state battery technology. Related: Explained: Lithium-ion vs Hydrogen vs Solid State BatteriesĢ025 GMC Sierra EV Elevation On the Road With a Beautiful Landscape Although silent about solid-state battery technology, Elon Musk, co-founder and CEO of Tesla, widely regarded as the pioneer of the new electric car movement, instead, chose to follow the 4680 batteries technology which, unlike the previous battery technology, offers about five times the current energy storage of Tesla's already supremely impressive industry-leading batteries at just half the cost. These benefits have made this technology incredibly attractive to automakers, but an ex-Tesla engineer, Gene Berdichevsky, who was in charge of the Roadster battery tech but left to start his own company, Sila Nanotechnologies, has expressed his doubts about this technology claiming it has several technical challenges that will be difficult to overcome and stated the future still remains in the hands of lithium-ion batteries. Solid-state battery technology uses a solid electrolyte instead of the liquid electrolyte used in traditional lithium-ion batteries, resulting in higher energy density, faster charging times, and improved safety. ![]()
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