Major Asian Carmakers and Technology Companies to Develop Solid-State Batteries
Leading Asian carmakers and tech giants, including Nissan, Toyota, and Samsung SDI, plan to develop solid-state batteries. Solid-state batteries (SSBs) are an evolving technology that significantly advances traditional lithium-ion batteries. They utilize a solid electrolyte rather than the liquid or gel electrolytes that are found in conventional batteries, which promises enhanced safety and energy density. However, the manufacturing process for solid-state batteries is complex and still needs a fully developed supply chain. These challenges contribute to higher production costs, deterring many major manufacturers from fully committing to this technology at scale.
Electric Vehicle Battery Market
According to Precedence Research’s detailed report, the global electric vehicle battery market size is calculated at USD 63.51 billion in 2023 and is projected to surpass around USD 573.08 billion by 2033, expanding at a CAGR of 25.1% over the forecast period 2024 to 2033.
Nonetheless, there is a growing interest in solid-state batteries due to their potential benefits, particularly in the electric vehicle (EV) sector. Energy density improvements mean SSBs can store more energy in the same amount of space, leading to longer driving ranges for EVs. Additionally, the solid design offers enhanced safety by reducing risks of leaks and thermal runaway, which can occur with liquid electrolyte batteries. As advancements in SSB technology continue, major Asian automakers and technology companies, such as Toyota, Nissan, and Samsung SDI, are competing fiercely to develop and produce solid-state batteries. Each company is investing heavily in research and development to gain a competitive edge in this emerging market.
Recent insights from Trendforce, a Taipei-based market intelligence provider, suggest that the production volume of solid-state batteries may reach gigawatt-hour (GWh) levels by 2027. This forecast reflects the urgent pace at which competitors are racing to innovate and bring new technologies to market. As a result of this rapid development, consumers will likely benefit from a broader range of high-performance batteries for electric vehicles, significantly enhancing choice and driving range. Solid-state batteries could revolutionize the EV market with the right investments and advancements and contribute to the global transition toward more sustainable energy solutions.
In October 2023, Toyota, a prominent electric vehicle (EV) market leader, made headlines by entering into a strategic partnership with Idemitsu Kosan, a key player in the energy and materials sector. This collaboration aims to leverage Idemitsu’s expertise in battery technology to enhance the performance and efficiency of EVs. Alongside this partnership, Toyota also secured governmental approval to significantly increase the production of electric vehicles that are integrated with advanced solid-state batteries. This initiative marks a pivotal moment for Toyota, as it aims to solidify its commitment to innovation in the EV sector, particularly by focusing on developing solid-state batteries known for their superior safety, energy density, and longevity compared to traditional lithium-ion batteries. By investing heavily in this battery technology, Toyota seeks to bolster its reputation for producing reliable vehicles and contributes to Japan’s status as a leading nation in the advancement of solid-state battery manufacturing. This move is expected to position Toyota at the forefront of the rapidly evolving EV landscape, meeting the growing demand for sustainable, high-performance vehicles.
We’ve prepared a service to support you. please feel free to contact us at sales@precedenceresearch.com | +1 804 441 9344
Aditi, a powerhouse in the world of market research with over 14 years of experience, driving insightful narratives for the rapidly evolving electric vehicle (EV) industry. With a sharp eye for detail and an innate ability to decode trends across multiple sectors, Aditi is more than just an expert—she's a trendsetter. Her special interest in the ICT and automotive industries, combined with cross-domain expertise, allows her to approach EV news from a fresh, multifaceted perspective.
Aditi’s writing doesn’t just inform, it engages. She brings the technical world of EVs to life with clarity and vision, making complex trends digestible for professionals and curious readers alike. Her years of market research mean she’s always one step ahead, identifying the hidden shifts that shape the future of mobility. Whether it's the latest technological breakthroughs in battery innovation, or the impact of ICT developments on the automotive supply chain, Aditi ensures her readers are never in the dark.
