Hyundai Invests to Advance EV Battery Technology
July 10, 2018—Hyundai CRADLE, Hyundai Motor Company's corporate venturing and open innovation business, is investing in Ionic Materials, a privately held battery developer based in Massachusetts, to advance the development of battery technology and improve EV performance with solid-state battery innovation.
Ionic Materials is a materials technology company developing advanced materials for high-energy-density batteries that are safer and less expensive than current ones. Using a patented solid polymer material, Ionic Materials enables solid-state batteries that are inherently safe, affordable, high in energy density and operational at room temperature. The properties of Ionic Materials' polymer electrolyte also support lithium-ion cells with little to no cobalt in their cathodes.
Expected Benefits of Solid-State Batteries:
- Inherent Safety: Eliminates safety issues with liquid electrolytes
- Higher Performance: Enables higher energy anodes and cathodes
- Lower Cost: Reduces battery cost through less expensive chemistries and manufacturing
Further advancements made possible by Ionic Materials' polymer will support additional high-energy and eco-friendly battery chemistries, including lithium metal, lithium sulfur and inexpensive and low-cost rechargeable alkaline batteries.