Market Data 
Solid-state batteries (SSBs) are poised to revolutionize the battery industry, unlocking a new paradigm that could significantly enhance energy density, safety, and performance in electric vehicles (EVs).
This next generation of batteries, particularly all-solid-state batteries (ASSBs), represents the most substantial advancement in battery technology in decades, according to analysts at Bernstein.
In a Monday report, the investment bank highlighted that these batteries could deliver 50% higher energy density at the cell level, reaching up to 500Wh/kg, enabling EVs to achieve a range of 700-800 kilometers with rapid charging times of under 10 minutes.
The technological promise of ASSBs lies in their potential to surpass current lithium-ion batteries (LiBs) in several key areas.
Notably, sulfide-based ASSBs stand out due to their superior safety performance and longer cycle life compared to other solid-state battery technologies like Li-metal anode or semi-solid-state batteries.
“Sulfide-based ASSBs are at A-sample stage but are expected to reach mass production 2027,” analysts noted.
Samsung (KS:) SDI, for instance, is leading the charge with plans to decide on building a commercial line by the end of 2024.
Despite their promise, SSBs face significant technological and cost challenges. The cost of ASSBs is projected to be initially much higher than existing Li-ion batteries, which could limit their application to high-end markets.
Moreover, dendrite formation—a key technological challenge—remains a significant obstacle. However, new materials are being developed to create stable interfaces between battery components, which could mitigate this issue, Bernstein explained.
One of the critical innovations in ASSBs is the solid electrolyte, which has become the new cathode in terms of cost and importance. The solid electrolyte constitutes about 50% of the cost of an ASSB, compared to just 5% in conventional LiBs. Companies like Idemitsu, Lake Materials, and Cosmo AM&T are emerging as leaders in this crucial area of battery development.
“By the end of this decade, we expect to see solid state batteries emerging to replace lithium-ion batteries,” analysts emphasized.
In terms of commercialization, timelines vary across different companies.
While Samsung SDI and CATL aim for mass production of ASSBs by 2027, other players like LG Energy Solution and SK Innovation are targeting the end of the decade.
Toyota (NYSE:), another significant player, has ambitions to commercialize SSBs by 2027/28, though their progress remains unclear.
Meanwhile, emerging companies like QuantumScape (QS) and Solid Power (SLDP) are making strides, with QuantumScape entering into a significant agreement with PowerCo for the production of 40GWh of SSBs per year.
