Scott Mlyn | CNBC
CNBC’s Jim Cramer is bullish on soon-to-public battery maker Solid Power as a “zero hype” electric vehicle game.
The solid-state battery maker counts Ford and BMW among its investors and is making technology that Cramer says could be a game-changer for electric vehicle makers.
“We know the biggest bottleneck for electric vehicles is the battery,” Cramer said. Fortunately, there is an alternative in the works – solid-state battery technology – that is lighter, cheaper, more durable, and much less likely to catch fire.
Solid Power is expected to go public through a merger with special purpose acquisition company Decarbonization Plus Acquisition Corp III.
“Now there is a solid-state drum set without the hype,” Cramer said.
Solid Power co-founder and CEO Doug Campbell appeared on CNBC’s “Mad Money” Friday to discuss how solid-state batteries could impact the electric vehicle industry.
“In a solid-state battery, we have replaced this volatile, flammable liquid and gel polymer electrolyte with a very stable solid ion conductor material,” Campbell said. “Our cells can still fail, but they do so in a very benign way. Not catastrophically … In other words, instead of thermal runaway on your hands, you just have a dead brick.”
The improved technology could reduce expenses for automakers, Campbell explained.
“We believe, and our [original equipment manufacturer] The partners believe that the design of future battery packs for electric vehicles incorporating solid-state batteries will be considerably simpler, ”said Campbell. “So that would reduce costs. “
Cramer noted that shares of Decarbonization Plus Acquisition Corp III closed at the $ 10 level on Friday, potentially offering an affordable entry into an investment opportunity.
“You’ve heard the endorsement from Ford. You’re doing your homework. I think it’s a very interesting situation,” Cramer told viewers.