Solid-state batteries: SSB is not as easy as ABC
While the industry has long awaited the arrival of solid-state batteries, it’s unlikely that they’ll arrive soon enough to reverse the recent narrative around electric vehicles. Initially, solid-state batteries will be expensive, likely be the preserve of premium brands and do nothing to address unfulfilled EV demand at lower price points. S&P Global Mobility’s latest forecasts suggest that EVs with solid-state batteries will account for just under 4% of production in 2034. Furthermore, and confirming this narrative, it was reported that Toyota’s plans for mass production of solid-state batteries from 2027–28 will see yearly production of little more than 10,000 units by 2030.
Hard to believe, but the lithium-ion battery, which has been synonymous with the auto industry’s electrification phase, not to mention the proliferation of personal electronic goods, is ripe for redevelopment. There have been different chemistries coming in and out of vogue, mainly involving the choice of cathode material, but the fundamentals have remained in place since the first commercialization in 1981.