Recently, PowerCo, a subsidiary of Volkswagen Group that focuses on battery business, completed an endurance test using QuantumScape solid-state batteries. The results proved that solid-state batteries can achieve an ultra-long life of 500,000 kilometers, and there is almost no battery life reduction. Stimulated by favorable news, QuantumScape, the leading US solid-state battery stock, continued to rise after opening last night, and eventually closed up more than 43%.

In the A-share market, solid-state battery concept stocks have also surged. Many stocks such as Jinlongyu, Xinlun New Materials, Shanghai Xibao, and Oriental Zirconium have risen and stopped. Dell shares have risen more than 8%, and Haishun New Materials, Betray, and Penghui Energy have followed suit.

Drive 500,000 kilometers with almost no loss

On January 4, according to foreign media sources, PowerCo, a battery subsidiary of the Volkswagen Group, recently completed durability tests on the QuantumScape solid-state battery and determined that it can power electric vehicles in the future, and that the battery life hardly declines after driving 500,000 kilometers.

According to a report published by PowerCo, the tests were carried out at its laboratory in Salzgitter, Germany. Over a period of several months, more than 1,000 charging cycles were carried out. The results showed that QuantumScape's 24-layer cells maintained more than 95% of their original capacity. According to the data, PowerCo said that an electric vehicle with a WLTP range of 500-600 kilometers will not have any significant reduction in vehicle range after being equipped with a QuantumScape solid-state battery and driving about 500,000 kilometers.

According to information, Quantumscape is a company focusing on the development and production of solid-state batteries. It was founded in 2012 and is headquartered in San Diego, California, USA. The company's founders include Kostas Kostarelos and Jens Honer, who are experts in materials science and energy. Compared to traditional lithium-ion batteries, Quantumscape's solid-state batteries have higher energy density, longer life, faster charging speed, and higher safety. At the same time, the company's solid-state battery technology has been tested and applied in fields such as electric vehicles and energy storage systems.

As early as QuantumScape began researching solid-state battery development, the Volkswagen Group invested many times, was one of the company's largest investors, and announced the establishment of a joint venture. Original equipment manufacturers such as Volkswagen helped QuantumScape develop and deliver some of the most promising solid-state battery technologies in the industry.

It is worth mentioning that before the PowerCofault test report, QuantumScape had updated test data, which was basically consistent with PowerCo's tests.

According to test data released on October 25, 2023, the battery tested by the vehicle customer was an A0 sample with a capacity of about 3.8 Ah, with a total capacity of 24 layers of electrodes, with a positive surface capacity of 3.1 mAh/square cm (this surface capacity is already very close to the relevant parameters of current mainstream high-nickel liquid lithium-ion batteries). According to the test conditions of C/3 charging and C/2 discharge, the capacity retention rate for 1000 cycles under 100% DoD is still 95%.

Large-scale industrialization is fully launched

As an emerging technology, the most significant difference between solid-state batteries and traditional lithium batteries is the physical form of the electrolyte inside the battery.

Traditional liquid lithium-ion batteries are generally made of a positive electrode, a diaphragm, and a negative electrode, and then filled with a liquid electrolyte; all-solid-state lithium-ion batteries are composed of a positive electrode, a negative electrode, and a solid electrolyte. The solid electrolyte layer can replace the flammable liquid solution in traditional lithium batteries, thereby achieving safer and more intensive energy storage.

Currently, solid-state battery technology has received widespread attention from countries around the world. Governments have introduced relevant policies to support its development, and China has also clarified the development goals and industrial technology plans for solid-state batteries.

“Made in China 2025” proposes that the battery energy density will reach 400Wh/kg in 2025, and the battery energy density will reach 500Wh/kg in 2030;

According to the “Mid-Long Term Development Plan for the Automobile Industry”, the specific energy of the power battery system will reach 350 Wh/kg by 2025. The solid-state battery system is in line with the future trend of high energy density;

The “New Energy Vehicle Industry Development Plan (2021-2035)” and the “Guiding Opinions of Six Departments Including the Ministry of Industry and Information Technology on Promoting the Development of the Energy Electronics Industry” all clearly proposed speeding up the R&D and application of solid-state batteries;

In 2023, China also proposed further research to strengthen the solid-state battery standard system. Currently, no subsidy policy has been introduced, and it is still mainly market-driven.

Overall, the solid-state battery market is closely related to the demand for lithium batteries in the three major fields of consumption, power, and energy storage, and the penetration rate of solid-state batteries in these three fields. In 2027, China's lithium battery production is expected to exceed 1200 GWh. Based on the industry's solid state battery penetration rate forecast, it is predicted that China's solid state battery market space will be about 26 GWh in 2027.

Industry insiders pointed out that as global demand for clean energy and sustainable development increases, solid state batteries are gradually becoming a popular technology in the field of new energy vehicles and energy storage. Closely following the development of solid-state battery technology and planning ahead of schedule is of great strategic significance in promoting sustainable development and further promoting the upgrading and transformation of China's industry.