In the race to tackle climate change, the move from petrol and diesel to electric cars has meant huge investment in battery development. Whilst originally targeting automotive, this new battery technology isn’t limited to the EV market and could benefit other markets where similar gains in performance are welcome (reduction in battery size for cordless domestic appliances) if not critical and enabling (new transportation, eVTOLs etc). These other markets are not only benefiting from the advances of battery technology in the EV market but also the timing – electric vehicles need to be mainstream in order to adhere to the global pact to combat climate change as signed in the Paris Agreement.
A key challenge in the electrification of vehicles is improving battery technology. Range anxiety remains a consumer concern but making a battery bigger to increase range, results in a battery too heavy to use.
Ilika plc (LON:IKA) is a pioneer in solid state battery technology enabling solutions for applications in Industrial IoT, MedTech, Electric Vehicles and Consumer Electronics.