Fisker gets investment from Caterpillar for solid state battery technology

Fisker and electric car company has gotten an investment from Caterpillar Venture Capital. Fisker is developing solid-state batteries.

Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.

Fisker Flexible Solid-State Battery will be faster charging, safer and enable more range and costs of less than $100 per kWh.

Fisker’s new solid-state batteries use thin-film technology that have been used to make solar cells. Using a new manufacturing process, Fisker says several thin film layers are stacked inside each battery cell, giving them 27 times more surface area than conventional cells. The result is a battery cell with twice as much energy density as a conventional lithium-ion cell. The new cells will last for “well over 1,000” charge cycles.

Fisker claims to be close to mass production of the new breakthrough batteries. Many other companies are working on solid-state batteries and competitors are years from production.