Chery to invest $1.5 billion in next-generation electric-vehicle batteries

Chery is putting nearly $1.5 billion behind solid-state batteries, a technology the Chinese automaker says it will begin testing in 2027. Chairman Yin Tongyue announced the investment at the World Battery Conference in Sichuan province.

The plan involves 10 billion yuan, equivalent to $1.489 billion, and about 1,200 engineers working on battery innovation. Yin said the batteries could offer twice the energy density of those currently used in electric vehicles. He did not give a date for when cars fitted with solid-state units might reach the market.

Yin also set a strict condition for future battery choices. Chery, he said, would not install other batteries in its vehicles “unless they prove that they are completely safe.” Solid-state batteries use solid electrolytes to move ions between electrodes. Analysts say they could deliver higher energy density, longer driving ranges and improved safety, with less risk of overheating or catching fire after an overload or collision.

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Unless they prove that they are completely safe.

The technology is not yet in large-scale electric-vehicle production. CATL founder and chairman Robin Zeng said in June that mass production of solid-state units would not arrive until 2030, rating the technology at “a four” on a scale of one to 10.

Some Chinese vehicles, including several premium Nio models, already use semi-solid batteries. These combine liquid materials with solid electrolytes. Chery is China’s largest vehicle exporter and sells widely in Latin America, including Mexico and Brazil. In Spain, it is known for assembling Ebro, Omoda and Jaecoo models at Nissan’s former Barcelona plant.

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A four