Ford has invested heavily in solid-state battery manufacturer Solid Power over the past few years, which makes sense given the fact that most expect that type of technology to eventually take over the EV market. This is because solid-state batteries don’t use the liquid electrolyte found in conventional lithium-ion batteries, can be lighter, offer greater energy density, and provide more range at a lower cost. Solid Power has done quite well for itself thus far, even though those batteries aren’t yet production ready, raking in $20 million last year. That success carried over to the second quarter of this year, too.
Solid Power accumulated $7.5 million in revenue and grant income during the second quarter of 2025, compared to $6 million during the first quarter of 2025, bringing the company’s first half revenue up to $13.5 million. The company’s Q2 revenue was primarily driven by a factory acceptance testing milestone achieved under its line installation agreement with SK On.
Meanwhile, Solid Power’s operating expenses were $33.4 million in Q2, compared to $30 million in Q1, including $6.7 million in costs incurred to support the completion of factory acceptance testing. It posted a year-to-date operating loss of $49.9 million and a net loss of $40.5 million, or $0.22 per share. As of the end of June, total liquidity stood at $279.8 million, while contract receivables were $4.6 million and total current liabilities were $12.4 million. Second quarter and first half of 2025 capital expenditures totaled $2.6 million and $5.0 million, respectively, primarily representing costs for construction of a continuous electrolyte production pilot line.
“We are pleased with our progress on our 2025 operational goals, and we are energized by continued customer demand for our electrolyte,” said John Van Scoter, President and Chief Executive Officer of Solid Power. “As we look to the balance of the year, we remain committed to achieving our objectives for the year and positioning the company to deliver long-term shareholder value.”
Which could come in handy in certain cases.
A cool combination, yet also something of a strange one.
It stands to save a lot of money as a result.
Things appear to be in full swing.
Even though the XT5 was recently spared.
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Investing is a risk. We will see if it pays off with revenue selling production ready solid state batteries.
"Solid Power has done quite well for itself thus far, even though those batteries aren’t yet production ready, raking in $20 million last year."