Given the shift in the preference of consumers to engage in sustainable and environment-friendly consumerism, the industry has been making the shift accordingly. More eco-friendly options are becoming available now and the solutions to save the planet while also making profits are now devised. This has created another sector of sustainability in every industry. Complying with it does not only make the industry popular with the consumers but also aids in reversing the appalling climatic and other changes on earth.
Recently, the automobile industry has been focusing on providing electrically charged vehicles. These vehicles have zero carbon emissions and they do not put a burden of exhaustion on already depleting non-renewable sources of fuel.
The manufacturing of the essential parts that are distinct to electric vehicles has also grown rapidly. Just now, a coalition among the companies that make batteries has been formed for this purpose. Seven of the companies have come forward and joined hands with one another to produce batteries for electric vehicles. These organizations are in Britain and include the Johnson Matthey (LON: JMAT), start-up Britishvolt and Oxford University, and the government-funded Faraday Institution.
These companies will come up with the manufacturing of new models and prototypes in the product line of solid batteries for these electric vehicles. These vehicles are becoming common in China and Europe. The automakers there are using lithium-ion and gel-form electrolyte or liquid batteries for now.
There is a need for a safer and more sustainable solution. These batteries that are being used are not long-lasting and have flammable materials inside. Hence, there is a need for a solid battery. This battery will also give more driving range to the vehicle.
Britishvolt is setting up a facility to manufacture such batteries. The plant will be functional in 2023 if all goes well.