The partnership is focused on the development of production technology for SemiSolid battery cells for use in VWAG electric vehicles (EVs).
As part of the partnership, VWAG will make a strategic investment into 24M. In addition to the direct investments, VWAG will establish a wholly-owned subsidiary that will, in cooperation with 24M, develop a SemiSolid battery cell production technology for automotive applications.
With EV demand on the rise, carmakers need battery solutions that are beyond R&D and can be implemented immediately and cost-effectively. The SemiSolid manufacturing platform delivers on both. Through strategic partnerships with energy innovators like GPSC, Kyocera, AXXIVA, LucasTVS, FREYR, Koch Strategic Platforms and now VWAG, 24M has built an ecosystem to rapidly scale the SemiSolid manufacturing platform.
"Volkswagen is implementing its battery strategy very consistently and at a high pace," said Thomas Schmall, member of the board of management of Volkswagen Group for Technology and CEO of Volkswagen Group Components. "The Volkswagen unified cell must be at the forefront of performance, costs and sustainability right from the start. With our new partners, we are taking the next step closer to this goal. Together, we will approach key parts of the battery value chain and develop cutting-edge technologies."
"The 24M mission is to develop a better, cleaner energy future powered by SemiSolid technology," says 24M president and CEO, Naoki Ota. "Our relationship with Volkswagen significantly expands the 24M ecosystem. Their investment, collaborative development and ability to scale globally will accelerate the SemiSolid manufacturing platform to replace the conventional manufacturing process and fast track electric vehicle adoption."