BEIJING (Reuters) – China plans to invest more than 6 billion yuan ($830 million) in a government-led project to develop solid-state batteries with six firms eligible for state funding to work on the next-generation technology, a person with direct knowledge of the matter said.
Solid-state batteries hold the promise of improved safety, a longer lifespan and faster charging compared with conventional lithium-ion batteries that use flammable liquid electrolytes. But mass adoption remains some way off due to constraints in raw material availability, intricate manufacturing processes and the resultant high costs.
China is seeking to cement its lead in the global EV market after early and heavy investment in domestic supply chains helped it become the most cost-competitive battery and EV producer in the world.
Those picked as potential participants in the project include battery makers CATL…
