French company Blue Solutions, a unit of Bollore, is set to construct a gigafactory in eastern France costing around 2 billion euros ($2.17 billion) to produce a new solid-state battery with a 20-minute charging time, CEO Richard Bouveret revealed.
Solid-state batteries are highly anticipated for electric vehicles (EVs), promising longer driving ranges and shorter charging times than traditional lithium-ion packs. Blue Solutions already produces solid-state batteries for Daimler electric buses and aims to commercialize its new smaller battery for cars, which targets a 1,000 km (621 miles) range and boasts an energy density 30%-40% higher than the top lithium-ion cells.
The planned gigafactory, located in eastern France near major French and German automakers, is expected to commence production in 2030. Unlike traditional sprawling battery gigafactories, it will feature modular towers with a smaller footprint and a capacity of 25 gigawatt hours (GWh).
Blue Solutions is actively seeking more deals after collaborating with BMW last year to develop EV batteries. Bouveret stated that the company aims to sign six joint development agreements (JDAs) by the end of 2024, including with at least one more automaker. Blue Solutions also signed a memorandum of understanding with Foxconn last year to develop batteries for electric two-wheeled vehicles.
In an effort to expedite the commercialization of its battery design, Blue Solutions is open to collaborating with rival battery makers. Bouveret emphasized their pragmatic approach, stating, “We want to bring our solid-state battery to the market very quickly.”
The company plans to launch a first financing round in the second half of the year, seeking more than 100 million euros to aid in the development of the new battery. Blue Solutions is looking for partners with expertise in various areas, including carmakers, industrial firms, and lithium battery component miners.
Blue Solutions has a pilot factory near its headquarters in Brittany, where it will produce prototypes of its new battery. Bouveret confirmed that they will ship an “A sample” by the end of the year to select potential customers and a third-party testing firm, a key step in showcasing their technology’s readiness.
