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Ford today announced an additional equity investment in Solid Power for further development of solid-state vehicle battery technology, aiming to deliver longer range, lower cost and safer electric vehicles for customers
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This investment builds on Ford’s 2019 investment, expanding the strategic partnership to test, pilot and scale solid-state battery cells and arrays and help accelerate their availability in future Ford EVs
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With this investment round, Ford and the BMW Group are equal equity owners, and representatives from each company will join Solid Power’s board
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Both automakers also have separate joint development agreements with Solid Power to develop and test its battery technology so each can meet the independent engineering and manufacturing requirements of their respective future vehicles
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Ford’s newest Solid Power investment is in addition to the company’s previously announced $22 billion global investment in connected, electrified vehicles through 2025; it builds on Ford’s Tuesday announcement that it is creating a new global battery center of excellence
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