Solid State Battery Development and Challenge

The Solid-State Battery Boom and Market Response

Peak Investment and Financing, and Market Boom

The solid-state battery craze in the primary and secondary markets has driven a peak in investment and financing for startups, significantly boosting the stock prices of related companies.

On the national level, the Ministry of Industry and Information Technology and the Ministry of Finance have provided 6 billion yuan in government funding for basic research on solid-state battery development, demonstrating the importance placed on this technology.

Industry Developments and Leading Companies' Plans

Since the beginning of this year, major battery manufacturers such as CATL, Gotion High-Tech, and CALB have frequently disclosed their progress in solid-state battery planning.

CATL plans to achieve small-scale production of all-solid-state batteries by 2027. Gotion High-Tech has released its first solid-state battery, "Golden Stone," and aims to equip vehicles with it by 2027, while CALB has introduced its "Infinity" solid-state battery and also targets 2027 for implementation in vehicles.

Drivers Behind the Solid-State Battery Hype

The Need for Technological Upgrades in the Industry

The current technology faces performance bottlenecks, with issues such as battery safety and energy density urgently needing solutions.

The growth in the penetration of the new energy vehicle (NEV) market has slowed, necessitating new battery technologies to support further development. Solid-state batteries, with their significant improvements in safety and energy density, are highly anticipated.

National Strategy and Global Technological Competition

The lithium battery industry has become a hallmark of energy innovation in the 21st century. Solid-state battery technology, as a next-generation key technology, has garnered attention worldwide.

Countries including Japan, South Korea, the U.S., and Europe are advancing their solid-state battery development strategies to compete with China in next-gen technology.

Challenges and Difficulties in Mass Production of Solid-State Batteries

Technology Pathways and Current Production Status

Currently, most batteries that can be used in vehicles are semi-solid-state batteries, while fully solid-state batteries remain immature in terms of equipment, materials, and processes.

Semi-solid-state batteries, considered a transitional technology, are ready for mass production, but fully solid-state batteries still face numerous challenges.

Material and Process Bottlenecks

Fully solid-state batteries are challenged by issues such as low conductivity and stability at the solid-solid interface, as well as the growth of dendrites.

The high cost of materials and imbalanced cost structures, along with the difficulty in matching anode and cathode materials, are major obstacles.

Equipment and Industrialization Challenges

Equipment maturity varies across different technology pathways, with the sulfide-based route still having significant room for performance improvement.

High production costs and safety concerns in large-scale solid-state battery testing hinder the industrialization process.

Outlook and Doubts on the Commercial Application of Solid-State Batteries

Production Plans and the Gap to Commercialization

Over 20 battery and car companies have announced solid-state battery production and vehicle deployment plans, but mass production and vehicle integration do not necessarily equate to true commercial application.

The production and vehicle integration plans set for 2027-2028 are more symbolic and demonstration-focused, with large-scale, low-cost production still some distance away.

Market Expectations and Uncertainties in Industrial Progress

There are doubts about the technical viability of fully solid-state batteries, and the chaotic industrial ecosystem has led to industry-related issues.

Even with technological breakthroughs, it will take considerable time for solid-state batteries to replace liquid lithium batteries.

Value and Significance of Cutting-Edge Technological Exploration

As a cutting-edge technology, the exploration of solid-state batteries holds positive significance, with even achieving a 1% market share being a breakthrough.

Although the process from 0 to 1 is slow, the journey from 1 to 10 often accelerates. Patience and time are essential for solid-state batteries.

Latest Progress and Competitive Landscape in the Industrialization of Solid-State Batteries

Latest Developments from Leading Companies

Leading companies like Penghui Energy, Gotion High-Tech, and Sunwoda have announced their latest advancements in all-solid-state batteries, planning to achieve mass production in the coming years.

Penghui Energy, using an oxide-based technology route, expects to start mass production in 2026, while Sunwoda and Gotion High-Tech, adopting polymer and sulfide routes respectively, aim to promote solid-state battery industrialization in the next few years.

Competition in Technology Routes and Accelerated Industrialization

Solid-state batteries are seeing competition in different material systems and production processes, including sulfide, oxide, and polymer pathways.

Each technology pathway has its strengths and weaknesses, with companies choosing the route best suited to their capabilities for development.

Capacity and Investment Boom

From January to July this year, the newly added capacity for solid-state batteries (including semi-solid-state batteries) exceeded 142 GWh, with total investment surpassing 64.4 billion yuan.

Investment events have been frequent, making solid-state batteries a hot spot in the investment field, with various forces accelerating their deployment.

Advancements and Breakthroughs in Solid-State Battery Manufacturing

Key Equipment R&D and Application

Companies such as Wuxi Lead Intelligent Equipment, Liontech, and Hightech Zao have made breakthroughs in the research and development of key equipment for solid-state batteries, securing orders from internationally renowned companies.

Other companies like JATEN Intelligent, Hymson Laser, and Hithium are also accelerating the development and application of specialized equipment for solid-state batteries.

Manufacturing Process Improvements and Optimization

New technologies such as dry electrode processes and efficient composite electrode sheet printing platforms are being applied in solid-state battery manufacturing, improving production efficiency and product quality.

The combined efforts of various stakeholders are speeding up the industrialization of solid-state batteries.

Conclusion: Future Prospects of Solid-State Batteries

The path to solid-state battery development is filled with challenges and opportunities. Continuous exploration and breakthroughs are needed in materials, processes, cost reduction, and applications. With sustained industry investment and technological progress, solid-state batteries are expected to achieve commercial application in the coming years, bringing new changes to the new energy market.