Will solid-state batteries be the new favorite for home energy storage and commercial energy storage?

On April 3, 2024, European startup Statevolt announced its plans to invest $3.2 billion (equivalent to 23.1 billion Chinese yuan) in building an advanced battery superfactory in Ras Al Khaimah, United Arab Emirates. The factory will adopt a modular design and initially focus on producing semi-solid-state batteries, with plans to transition to full solid-state batteries once in full operation. It is projected to have an annual production capacity of 40 GWh to meet the growing global demand for energy storage solutions.

The project will be located in the Al Hamra Industrial Zone in RAKEZ, covering an area of approximately 60 hectares and is expected to create up to 2,500 direct job opportunities for the local community. Statevolt has already partnered with RAKEZ and is in the process of obtaining construction permits, with the goal of starting production on the first assembly line by the end of 2026.

Lars Carlstrom, the founder and CEO of Statevolt, emphasized that the establishment of this superfactory aims to address the increasing demand for energy storage solutions in Africa, India, the United Arab Emirates, and the Middle East. Through this strategic investment, Statevolt aims to strengthen its leadership position in the global energy transition and sustainable energy management.

Statevolt is a startup battery manufacturing company focused on developing and building advanced battery superfactories to support the future development of clean energy. Lars Carlstrom, the founder of Statevolt, is also the founder and CEO of Italvolt and one of the co-founders of Britishvolt.

In 2022, Statevolt announced plans to build a 54 GWh battery factory in the Empire Valley of California, United States, with an estimated investment of $4 billion. The construction of this factory is expected to provide batteries for approximately 650,000 electric vehicles.

Italvolt is dedicated to supporting the green industrialization of Italy and Europe at large. In 2021, it announced the establishment of one of Europe's largest battery superfactories in Italy, with a final capacity of 70 GWh. Britishvolt, on the other hand, plans to establish a large-scale battery factory in the United Kingdom, focusing on supplying batteries for electric vehicles.

We believe that with the increasing application of solid-state batteries in the field of electric vehicles, the next step will undoubtedly be the application of home energy storage products and commercial energy storage products. Let us wait and see!

Source: Statevolt (compiled and translated from Chinese)