Latest Developments in Solid-State Batteries by the Top 10 Global Lithium-ion Companies

In 2024, the global competition landscape for power batteries has begun to take shape. Public data released on July 2nd reveals that the global power battery installation reached a total of 285.4 GWh from January to May this year, marking a 23% year-on-year growth.

The top ten companies in the ranking are: CATL, BYD, LG Energy Solution, SK Innovation, Samsung SDI, Panasonic, CALB, EVE Energy, Guoxuan High-Tech, and Xinwanda. Chinese battery companies continue to occupy six of the top ten positions.

Among them, CATL’s power battery installations reached 107 GWh, accounting for 37.5% of the market share, securing the leading position with an absolute advantage. CATL is also the only company worldwide to exceed 100 GWh of installations. BYD’s power battery installations amounted to 44.9 GWh, ranking second with a market share of 15.7%, which increased by 2 percentage points compared to the previous two months. In the field of solid-state batteries, CATL’s technological roadmap relies mainly on the combination of solid-state and sulfide materials, aiming to achieve an energy density of 500 Wh/kg. Currently, CATL continues to invest in the field of solid-state batteries and expects to achieve small-scale production by 2027.

As for BYD, market sources indicate that they may adopt a technological roadmap consisting of high-nickel ternary (single crystal) cathodes, silicon-based anodes (low expansion), and sulfide electrolytes (composite halides). The cell capacity can exceed 60 Ah, with a mass-specific energy density of 400 Wh/kg and a volumetric energy density of 800 Wh/L. The energy density of the battery pack, which is resistant to puncture or heating, can exceed 280 Wh/kg. The timing of mass production is roughly the same as the market, with small-scale production expected by 2027 and market promotion by 2030.

LG Energy Solution previously projected the launch of oxide-based solid-state batteries by 2028 and sulfide-based solid-state batteries by 2030. The latest update shows that LG Energy Solution aims to commercialize dry coating battery technology before 2028, which could reduce battery production costs by 17%-30%.

SK Innovation plans to complete the development of polymer oxide composite solid-state batteries and sulfide solid-state batteries by 2026, with industrialization targeted for 2028. Currently, they are establishing a battery research center in Daejeon, Chungcheongnam-do.

Samsung SDI recently announced its plan to commence mass production of solid-state batteries in 2027. The battery component they are working on will achieve an energy density of 900 Wh/L and have a lifespan of up to 20 years, enabling 80% charging in 9 minutes.

Panasonic had collaborated with Toyota in 2019, aiming to transition solid-state batteries from the experimental phase to industrialization. The two companies also established a solid-state battery enterprise called Prime Planet Energy & Solutions Inc. However, there have been no further updates at present. Nonetheless, Panasonic previously announced plans in 2023 to start solid-state battery production before 2029, primarily for use in unmanned aerial vehicles.

There is limited recent news regarding CALB’s progress in the field of solid-state batteries. In the fourth quarter of last year, CALB stated at a global partner conference that their semi-solid-state batteries would be installed in a luxury foreign brand’s vehicles in the fourth quarter of 2024. These batteries can achieve a 500 km range with a 10-minute charge, and their maximum range can reach 1000 km.

EVE Energy’s Deputy Director of the Central Research Institute, Zhao Ruirui, revealed the latest developments in solid-state batteries in June of this year. It is reported that EVE Energy is pursuing a technological roadmap that incorporates sulfide and halide solid-state electrolytes. They plan to launch full solid-state batteries in 2026, initially focusing on hybrid electric vehicles.

Guoxuan High-Tech has already released the “Jinshi Battery,” a full solid-state battery that employs sulfide electrolytes. It boasts an energy density of up to 350 Wh/kg, surpassing mainstream ternary batteries by more than 40%. With a semi-solid-state production capacity of 2 GWh, Guoxuan High-Tech aims to conduct small-scale on-vehicle tests of the full solid-state Jinshi Battery in 2027, with the goal of achieving mass production by 2030 when the industrial chain is well-established.

Xinwanda made its first detailed public disclosure of progress in full solid-state batteries in July of this year. Xinwanda stated that through technological innovation, it expects to reduce the cost of polymer-based solid-state batteries to 2 yuan/Wh by 2026, which is close tothe cost of traditional lithium-ion batteries. They plan to achieve mass production of full solid-state batteries by 2030.

In conclusion, the top ten global lithium-ion companies are actively developing solid-state batteries and making significant progress in this field. CATL leads the pack with its focus on solid-state and sulfide materials, aiming for an energy density of 500 Wh/kg. Other companies like BYD, LG Energy Solution, SK Innovation, Samsung SDI, Panasonic, CALB, EVE Energy, Guoxuan High-Tech, and Xinwanda also have their respective technological roadmaps and timelines for solid-state battery development. The race for solid-state batteries is on, and these companies are striving to achieve commercialization and mass production in the coming years. Exciting advancements and breakthroughs are expected to revolutionize the energy storage industry and drive the widespread adoption of solid-state batteries.