BMW to make Solid Power’s battery cells

December 31, 2023

Solid Power Inc, a solid-state battery manufacturer, announced on Wednesday that it will provide certain intellectual property rights related to its solid-state batteries to BMW. This will enable the production of battery cells at BMW’s facilities in Germany.

Solid Power, based in Colorado, will license the cell design and manufacturing processes to BMW. In return, BMW will pay Solid Power $20 million through June 2024, subject to certain conditions. As part of the agreement, Solid Power will retain the intellectual property rights related to its electrolyte material. This material will be supplied to BMW once the automaker’s battery production lines are operational.

BMW, an investor in Solid Power, already has an agreement to receive finished battery cells. Solid Power went public in December and hopes to enhance EV batteries with their solid state technology.