Ford and BMW have teamed up to lead a $ 130 million financing round to invest in Solid Power.
Solid Power is a manufacturer of solid batteries used in electric vehicles.
The two companies seek to find highly efficient and affordable batteries to reduce the costs of making electric cars.
The head of the battery technology development department at German BMW, Peter Lamb, said that the company aims, by the end of the current decade, to be able to manufacture high-tech dry battery cells.
The announcement of this partnership comes as major car companies race to develop electric vehicles to reduce carbon dioxide emissions around the world.
And the new technology of these batteries will improve the lithium-ion batteries, which are currently used, and replace the gel material with a solid that conducts electricity, providing 50 percent more energy density and more safety for components that are considered flammable.
At present, this type of battery is considered more expensive than lithium-ion batteries, but it aims to reduce its costs, to become competitive in price, efficiency and durability, and to meet the reserves of the electric car industry.
BMW’s director of development, Frank Weber, said solid-state batteries promise to create electric cars that are more efficient, more sustainable and safer.
The American Ford Company is also seeking to add a number of electric models to its lineup of cars, as it said it would introduce in mid-2022 a fully electric “F150” vehicle.