Automakers rely on American start-ups for solid-state batteries

Solid-state batteries are not yet in use or ready for series production. BMW and VW have now invested millions in start-ups that are researching them. However, the German start-up scene has been left empty-handed.

German automakers continue to invest in new technologies: BMW Group joins Ford and Volta Energy Technologies in a recent round of financing for Solid Power, a manufacturer of solid-state batteries for electric vehicles. A total of $130 million was raised in the start-up's Series B funding.

Ford and BMW want to use the company's solid-state batteries for their electric vehicles in the future, and use the money to enable production. If that stands, BMW also wants to put the batteries in its cars.

Volkswagen has also recently invested in a startup working on a breakthrough in the new storage technology. VW invested just under $100 million in California-based startup Quantumscape in early April. Solid-state batteries have the potential to replace lithium-ion technology, which has been the norm until now, because they are more durable, among other things.