Solid-State Battery Industry Accelerates as New Energy Companies Announce Progress

The commercialization of solid-state batteries is accelerating, with new developments disclosed by renewable energy companies.

Since May, numerous listed companies in the lithium battery supply chain have held performance briefings. A review of the related Q&A sessions reveals that the application and research progress of solid-state batteries continue to be hot topics of interest for investors. In terms of application, companies like FuNeng Technology, HaiMuXing, and Ganfeng Lithium are optimistic about the early adoption of solid-state batteries in the low-altitude economy. However, mass production for vehicles is still some time away.

On the research side, companies such as Xiamen Tungsten Industry and Tianqi Lithium are actively advancing the development of key solid-state battery materials like lithium sulfide and lithium metal anodes, leveraging their existing industrial foundations. According to an analysis by Gaogong Lithium Battery, contrary to market expectations that solid-state batteries would first disrupt the electric vehicle market, they are actually achieving small batch deliveries in diverse sectors such as drones, eVTOLs, robotics, and energy storage. This marks a significant step forward in the commercialization of solid-state batteries, providing essential data and experience for technology iteration and cost control as they prepare to enter larger electric vehicle and energy storage markets.

The competitive landscape of solid-state batteries is gradually shifting from a research race to market validation. During performance briefings, many companies’ executives expressed optimism about the initial applications of solid-state batteries in the low-altitude economy. Some have already begun to explore this emerging market. Pan Lian, Secretary of the Board at FuNeng Technology, informed investors that their second-generation semi-solid-state battery has an energy density exceeding 330Wh/kg and a cycle life of over 4000 cycles, with mass production expected in 2025. This product is anticipated to achieve commercialization first in areas with high technical barriers and performance requirements, such as the low-altitude economy and humanoid robots.

In the low-altitude economy sector, FuNeng Technology is closely collaborating with leading eVTOL clients in the United States, Shanghai, and Geely WoFei. Particularly in the flying car sector, the company has secured a contract for high-pressure power batteries for the next generation of domestic flying car models. Currently, the majority of their eVTOL projects are utilizing the second-generation eVTOL semi-solid-state battery for sampling and delivery. Equipment supplier HaiMuXing is also making strides in this field through deep collaboration with battery manufacturers. The company has established a five-year strategic cooperation agreement with lithium metal solid-state battery producer Xinjie Energy and signed a 400 million yuan order for 2GWh of solid-state battery production equipment, becoming the first comprehensive equipment supplier for commercial lithium metal high-energy-density solid-state batteries in the industry.

HaiMuXing’s solid-state battery technology route employs oxide solid electrolytes and lithium metal anode materials, achieving energy densities exceeding 450Wh/kg, significantly higher than currently mass-produced semi-solid products. This product has also passed extreme environmental tests for puncture, high temperature, and low temperature, confirming its safety performance. Currently, this solid-state battery is being used in EHang‘s manned eVTOL aircraft, continuously setting new endurance flight records.

Ganfeng Lithium has established a comprehensive layout for solid-state batteries. Ren Yuchen, Secretary of the Board, stated that the company has launched solid-state battery solutions suitable for low-altitude flight scenarios and has partnered with well-known drone and eVTOL companies, with samples entering the airworthiness certification process to lay the groundwork for commercial operations in the low-altitude economy.

Apart from the low-altitude economy, investors also hold high expectations for the application of solid-state batteries in new energy vehicles. According to shared insights from various companies, the industry generally predicts that fully solid-state batteries will achieve small-scale production in three years. Jiang Li, Secretary of the Board and Vice President of CATL, informed investors that CATL is continuously investing in solid-state battery technology, which is at the industry’s leading level, with small-scale production expected by 2027. Executives at GreenMei anticipate that the solid-state battery sector will initiate mass demonstration vehicle applications and small-scale production around 2027, achieving large-scale production by 2030.

On May 19, Pan Ruijun, head of solid-state battery R&D at Guoxuan High-Tech, attended an investor conference with other company leaders. He reported that the company’s vehicle-grade solid-state battery, known as the “Jinshi Battery,” is currently in the pilot production phase, with the design of the first generation of solid-state battery production lines officially underway to lay the foundation for future mass production. Additionally, the company’s G-Yuan quasi-solid-state battery has an energy density of 300Wh/kg and has passed multiple rigorous safety tests. The company plans to construct a 12GWh quasi-solid-state battery production line, with progress largely dependent on the actual outcomes of vehicle integration and industrial advancement in the second half of the year.

New materials companies are seizing the opportunity to support the solid-state battery industry. “Globally, the forefront of new energy battery research and development lies in materials. Those who achieve revolutionary breakthroughs in this field will gain a competitive edge,” stated Zhang Tianren, Chairman of TianNeng Holdings Group, in a recent interview. Key materials have long been a bottleneck in the industrialization of solid-state batteries, and many new materials companies are leveraging their industrial foundations to tackle these challenges and capture market share. The latest R&D and sample progress from these companies is also of significant interest to investors.

Xiamen Tungsten Industry reported to investors that a major challenge in the sulfide solid electrolyte technology route is lithium sulfide, as its synthesis process is complex and costly. The company, with its strong technical foundation, has developed a new synthesis process for lithium sulfide, showing promising technical indicators and significant cost reduction potential based on small and pilot test results. Xiamen Tungsten Industry mentioned that it began R&D on cathode materials, referred to as “NL New Materials,” in 2021, with an expected production capacity of 1,000 tons by 2024. The advantages of NL New Materials in the fully solid-state battery field are threefold: the ability to gradually replace precious metals with cheaper metallic elements, suitability for releasing more energy at high voltages, and improved contact between solid-solid interfaces in solid-state batteries.

Tianqi Lithium is transitioning from a “lithium resource supplier” to a “new materials solution provider.” During the shareholder meeting, the company outlined its layout regarding solid-state battery materials, covering key raw materials, including cathodes, anodes, and electrolytes. Tianqi Lithium also shared the latest research progress on lithium metal anode materials from its joint venture. Through its wholly-owned subsidiary Tianqi Chuangli, the company jointly established Tianqi Weilan Solid Lithium New Materials (Shenzhen) Co., Ltd. (referred to as “Shenzhen Solid Lithium”) with leading solid-state battery company Beijing Weilan New Energy Technology Co., Ltd.. Shenzhen Solid Lithium focuses on pre-lithiation anode materials, lithium metal anodes, and lithium-based alloy (composite) anodes, as well as pre-lithiation reagents and related manufacturing equipment. According to Tianqi Lithium, the construction project for Shenzhen Solid Lithium’s pre-lithiation laboratory has been completed and accepted, with two sets of pre-lithiation equipment developed and the first phase of material debugging for medium to high-volume pre-lithiation equipment completed.