Chinese-based Volta Technology Limited announces that the company plans to mass-produce its first commercial-use electric batteries in the first quarter of 2023
HONG KONG, May 24, 2022 (GLOBE NEWSWIRE) — Volta Technology Limited has today announced it would roll out its innovative solid-state batteries from its pilot production line in Shenzhen in early 2023.
Solid-state batteries are referred to as “the next-generation battery product,” which experts have noted are safer and more powerful than traditional lithium-ion batteries.
Solid-state batteries have twice the energy storage capacity of lithium-ion batteries. As a result, leading electric vehicle manufacturers are investing heavily in this technology. According to Volta Technology Limited, an electric vehicle with a solid-state battery can have a range of 600 plus kilometers or more.
Volta Technology Limited had previously stated that it would commercially launch its solid-state batteries in late 2023. But the company’s pilot project is anticipated to accelerate the commercial release of the technology.
“Through stringent assessment of our technological viability, we are pleased to be able to speed up the timing for mass production. We are now aiming for mass-production of our completed product in early 2023,” said Chen Wong, Chief Executive Officer of Volta Technology Limited.
Headquartered in Shenzhen, China, Volta Technology Limited has assembled a growing team of dedicated engineers with a passion for chemistry and technology on a mission to revolutionize energy storage. The company strives to become the industry leader in developing solid-state batteries for the world’s largest electronic vehicle manufacturing companies.
“Our solid-state technology is almost perfect. We have invested heavily into our research and development over the past six years and, as a result, we are bringing our solid-state battery designs closer to production readiness,” added Patrick Lau, Chief Technology Officer at Volta Technology Limited.
According to Volta Technology Limited, the global solid-state battery industry generated $0.5 billion in 2020 and is anticipated to generate $3.4 billion by 2030.
Chou Lee, Investor Relations Officer
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