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Ford, BMW Increase Invest In Solid-state Battery Startup Solid Power

Ford and the BMW Group have expanded existing joint development agreements with Solid Power, producer of all solid-state batteries for electric vehicles, to secure all solid-state batteries for future electric vehicles. The companies are leading a $130 million funding round in Solid Power.

With the investment round, Ford and the BMW Group are equal equity owners, and representatives from each company will join Solid Power's board.

Solid Power now plans to begin producing automotive-scale batteries on its pilot production line in early 2022.

Solid Power is currently producing 20 ampere hour (Ah) multi-layer all solid-state batteries on the company's continuous roll-to-roll production line.

Both Ford and the BMW Group will receive full-scale 100 Ah cells for automotive qualification testing and vehicle integration beginning in 2022.

Ford said its newest Solid Power investment is in addition to the company's previously announced $22 billion global investment in connected, electrified vehicles through 2025.

In Europe, Ford is moving to an all-electric lineup by 2030, with its commercial vehicle range 100 percent zero-emissions capable, all-electric or plug-in hybrid by 2024.

Ford also is investing $1 billion in a new electric vehicle manufacturing center in Cologne to build a high-volume all-electric passenger vehicle for European customers starting in 2023.

In North America, the Ford Mustang Mach-E has found early sales success. Plus, the all-electric Ford Transit is set to go on sale late this year and the all-electric F-150 arrives by mid-2022, Ford said.

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