China to Invest $820-$830 Million in All-Solid-State Battery R&D

May 29, 2024, 10:13 AM

China is planning to invest around 6 billion yuan ($820 million to $830 million) to encourage the research and development of all-solid-state batteries, a cutting-edge battery technology at the heart of the next generation of electric vehicles. This investment, the biggest of its kind, aims to boost the development of more powerful electric vehicle battery technology. Industrial sources indicate that key Tesla and Nio suppliers may be among those eligible to receive this funding. Compared to traditional lithium-ion batteries that use flammable liquid electrolytes, solid-state batteries offer better safety and performance.