Solid Power (SLDP.US) surged after hours! Reached strategic cooperation with Samsung and BMW to advance all-solid-state battery technology.

American solid-state battery technology developer Solid Power (SLDP.US) announced on Thursday a strategic partnership with Samsung and BMW to develop and validate a demonstration vehicle using solid-state battery technology. Encouraged by this news, as of the time of writing, Solid Power's stock surged more than 20% after hours on Thursday. Under the collaboration agreement, Solid Power will provide Samsung SDI with a sulfide-based solid-state electrolyte. Samsung SDI will integrate this electrolyte into separators and/or cathode electrolyte systems to manufacture battery cells. Subsequently, these battery cells will be evaluated based on performance parameters and requirements agreed upon by Samsung SDI and BMW. Ultimately, the goal of Solid Power, Samsung SDI, and BMW is to develop and supply solid-state battery cells for demonstration vehicles. The three companies stated that solid-state battery cells have the potential to improve energy density, battery life, and safety performance by replacing liquid electrolytes with solid-state materials. Solid Power announced that this partnership will support its strategic goal of producing and selling electrolytes to top-tier battery manufacturers and automotive original equipment manufacturers (OEMs).