Mercedes: Forget Solid-State, Lithium-ion Powers the EV Future

While the market predominantly perceives the advancement of solid-state battery technology as a catalyst for the growth of electric vehicle products, Markus Schäfer, the Chief Technology Officer of Mercedes-Benz, recently posited that solid-state batteries might not be essential for the development of electric vehicles. This perspective stems from the continual progress in lithium-ion battery technology, which now parallels solid-state batteries in terms of energy density improvements and cost control.

The previously emphasized advantages of solid-state batteries in energy density and cost control are seemingly diminishing, now closely matched by the advancements in lithium-ion battery technology, as observed by Markus Schäfer, the Chief Technology Officer of Mercedes-Benz.

Markus Schäfer clarified that this does not imply a lack of confidence in the development of solid-state battery technology by Mercedes-Benz. The company has invested in solid-state battery startups in the United States and South Korea and continues to monitor the evolution of this technology. However, the recent strides in lithium-ion battery technology, especially in matching the energy density and cost-effectiveness of solid-state batteries, have reduced the once clear superiority of solid-state batteries in high energy density and low-cost design. These advancements, coupled with longer research and development timelines for solid-state batteries, suggest that lithium-ion technology might play a more pivotal role in driving the future of the electric vehicle market.

Contrasting with the strategies of automakers like Toyota and Nissan, who plan to commence mass production of solid-state batteries by 2028, Mercedes-Benz might increasingly invest in lithium-ion battery technology.

Furthermore, Markus Schäfer perceives the market’s current optimism towards the development of solid-state battery technology as somewhat overzealous, akin to the sentiments previously held regarding the widespread application of autonomous driving technology. Despite years of development, there remains significant room for improvement in this area. Additionally, Schäfer believes that, while many electric vehicles boast ultra-fast charging capabilities, this feature has not alleviated the prevalent range anxiety among consumers. Therefore, he advocates for the continued focus on developing batteries with higher energy density.