South Korea is investing 20 trillion won ($15 billion) by 2030 in the world’s first solid-state batteries for electric vehicles. According to a statement from the presidential office acquired by Bloomberg and reported on Thursday, the country plans to be the first in the world to commercialize solid-state batteries.
The investment will be jointly made by public and private sectors and the ambitious plan was announced during a meeting hosted by President Yoon Suk Yeol Thursday.
Solid-state batteries, as their name suggests, are batteries that have both solid electrodes and solid electrolytes. These types of batteries have been rapidly developing in the last few years alongside electric vehicles and they are touted by many as the next generation in battery technology.
They offer incredible safety and relatively low manufacturing costs. This is because they don’t have a liquid core, like modern batteries, but rather a solid substance. This has various benefits, including the fact that these batteries may be produced on a smaller scale and are trickier to ignite.
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