What’s arguably the one thing that’s been holding back the growth of electric vehicle (EV) technology?
The time it takes and the frequency with which you have to find a charging station for your electric vehicle.
However, thanks to this technology I’m about to introduce to you today, this problem could be solved.
In fact, manufacturers like GM…Ford…Toyota…BMW…Honda…Volkswagen…have already jumped on board and are racing to get this tech inside their vehicles.
It’s so potentially disruptive, the winner of this race could see an end to the competition or certainly see them trailing behind.
What am I talking about?
Introducing “S.S.B.”…
Solid-State Batteries (SSBs) replaces the liquid electrolyte normally found in lithium-ion batteries with a special polymer to create a completely SOLID battery.
Unlike the liquid electrolyte found in lithium batteries, this polymer is NOT flammable, so there’s no danger of explosion.
One of the biggest problems with lithium-ion batteries is they’re incredibly dangerous. They can explode when pierced or punctured!
Solid-State Batteries, on the other hand, can be cut, nailed, stabbed, shot — they will not catch fire or explode.
What’s more, this polymer has as much as 27 TIMES more surface area — allowing more ions to pass through it, at a much faster rate.
As a result, it drastically increases charging speed and requires almost NO rare or expensive materials and, therefore, is much cheaper to make.
This is a big deal, because batteries make up as much as 30% of the production cost in electric cars.
Drive down the cost of the battery — and you drive down the price of the car.
Consequently, EVs become more affordable. And that should spur mass adoption in the future.
And finally, because this special polymer doesn’t degrade, it can be recharged hundreds of thousands of times without losing energy density.
Toyota’s big breakthrough
Recently, Japanese automaker Toyota announced a major breakthrough in SSBT, which could halve the cost and size of these batteries.
If successful, Toyota’s SSB will double the range of EVs up to 1,200 km. What’s more, the charging time will be 10 minutes or less.
The company went on to say it was close to being able to manufacture SSBs at the same pace as existing batteries for EVs. Mass production of SSBs may start by 2027 or 2028.
What’s more, in late October 2023, Toyota agreed to work with Idemitsu, a major Japanese oil company, on technology for mass production of SSBs. Idemitsu has been researching basic technologies for all SSBs since 2001.
However, Toyota isn’t the only automaker working on SSBs…
Behind the scenes, the world’s biggest automakers are inking blockbuster deals to get this new type of battery into their fleets as soon as possible — General Motors, Ford, BMW, Nissan, Hyundai, Audi and Porsche … just to name a few.
Even Caterpillar, the world’s leading construction equipment company, is aiming to adopt the technology too, for its trucks, diggers, and excavation equipment.
In short, SSBs are essential for mass commercialising battery-powered EVs.
And the winner of this race could become a huge money-making opportunity for investors. If you want to follow what’s happening in this space and get ideas on where to invest, then join my service, South African Investor. You can test run it for 12 months risk-free I’m that convinced it can help you profit!
Not a subscriber to Money Morning?
You can get free daily recommendations like these with Money Morning eletter. Just sign up here.
