Samsung Bets on Solid-State Batteries for 2027
Samsung SDI, a battery giant, is setting its sights on a revolutionary technology - solid-state batteries. By 2027, they aim to be in mass production, boasting an impressive energy density of 900 Wh/L, far exceeding current lithium-ion limitations.
Solid-state batteries offer a significant edge. They're not only more durable but also safer, eliminating the fire risk associated with lithium-ion. Additionally, Samsung promises batteries with a lifespan of 20 years and lightning-fast charging - just 9 minutes to 80% capacity!
While detailed specs remain under wraps, Samsung's vision has the potential to significantly boost electric vehicle (EV) range, propelling the industry forward.
Toyota Takes Charge of Battery Production
Meanwhile, Toyota, a major player in the EV landscape, is making strategic moves to secure its battery future. They recently announced the acquisition of their long-standing electric battery joint venture with Panasonic, Primearth EV Energy (PEVE). This move gives Toyota complete control over mass production of automotive batteries, strengthening their position in the market.
PEVE isn't new to the game. They've been producing battery packs for hybrid electric vehicles (HEVs) like the iconic Toyota Prius for nearly three decades. Now, they're set to expand their portfolio to include batteries for battery electric vehicles (BEVs) and plug-in hybrids (PHEVs). This expansion allows Toyota to respond swiftly to the growing demand for EVs while boosting their mass-production competitiveness.
Toyota's EV Ambitions: A Calculated Approach
While Toyota is securing its battery supply chain, they haven't completely abandoned their existing partnerships. They continue to source BEV batteries from Panasonic's joint venture, Prime Planet Energy & Solutions (PPES), alongside China's CATL. Notably, Toyota recently invested a whopping $2.5 billion to expand a PPES battery factory in North Carolina, showcasing their commitment to the technology.
Despite these significant investments, Toyota has faced criticism for being slow to fully embrace EVs. This perception even led to a CEO change in 2023, with Koji Sato, former Lexus head, taking the reins to accelerate their EV strategy. Interestingly, former CEO Akio Toyoda remains on the board and maintains his belief that EVs will only capture a maximum of 30% of the market share.
The Future of Electric Vehicles: A Race for Innovation
The electric vehicle industry is witnessing a thrilling race for innovation. With Samsung's focus on groundbreaking solid-state batteries and Toyota's strategic moves to secure battery production, the future looks bright for EVs. Whether Toyota's calculated approach proves successful or Samsung's futuristic technology disrupts the market, one thing's for sure - exciting advancements are on the horizon for electric vehicles.