Shares of Solid Power, Inc (SLDP) are soaring 17.17% in pre-market trading on Friday following the announcement of a strategic collaboration with Samsung SDI and BMW to advance all-solid-state battery technology. This partnership aims to develop and validate a demonstration vehicle powered by this cutting-edge battery technology, sparking significant investor enthusiasm.

Under the agreement, Solid Power will supply sulfide-based solid electrolytes to Samsung SDI, which will integrate them into separator and/or cathode electrolyte systems for battery cell production. These cells will then be evaluated against performance parameters and requirements jointly defined by Samsung SDI and BMW. The ultimate goal is to develop and supply all-solid-state battery cells for prototype vehicles, positioning Solid Power at the forefront of next-generation battery technology.

This collaboration aligns with Solid Power's strategic objective to produce and sell electrolytes to tier-1 battery manufacturers and automotive OEMs. The company highlighted that all-solid-state battery cells could significantly enhance energy density, cycle life, and safety by replacing liquid electrolytes with solid materials. As the automotive industry continues to shift towards electrification, this partnership could potentially accelerate the development and adoption of more efficient and safer electric vehicle batteries, boosting Solid Power's market position and future growth prospects.