According to Reuters, Volkswagen Group is expanding its collaboration network to drive the development of solid-state battery technology for electric vehicles. The previously delayed collaboration plans with the U.S. startup QuantumScape are now being complemented by discussions with the French Bollore Group's subsidiary, Blue Solutions.
Citing sources familiar with the matter, Reuters reports that Volkswagen Group is in talks with Blue Solutions to explore the application of solid-state battery designs in automobiles. Blue Solutions is known to produce solid-state batteries for electric buses manufactured by Daimler.
Insiders mentioned that Volkswagen and Blue Solutions plan to reach a joint development agreement in the coming months. While Volkswagen confirmed that its joint venture with QuantumScape is progressing as planned, the company declined to comment on the discussions with Blue Solutions.
A spokesperson for Blue Solutions stated that the company is developing a battery for passenger vehicles, having signed development agreements with BMW and another undisclosed company. The spokesperson also mentioned ongoing discussions with a third company but refrained from disclosing specific details.
Blue Solutions faces the challenge of significantly reducing the charging time for its products. Currently, the company's existing battery products require a charging time of 4 hours. The spokesperson informed Reuters that Blue Solutions is working on a passenger vehicle battery with a charging time of only 20 minutes and plans to establish a "super factory" by 2029.
Solid-state batteries hold the potential for longer range and shorter charging times compared to traditional lithium-ion batteries. However, despite decades of research and billions of dollars in investments, the solid-state battery industry still grapples with technical challenges.
The lack of commercial success in the solid-state battery sector has dampened enthusiasm in the capital markets. According to data from PitchBook, global venture capital investment in solid-state battery startups declined by 72% last year to $146 million, marking a reversal from the growth trend observed since 2018.
