Under the New National Standard for Power Batteries: Unveiling the Capital Carnival and Technological Truths of the Solid-State Battery Industry!

Recently, the China Society of Automotive Engineers released the group standard "Judgment Method for All-Solid-State Batteries," which for the first time clearly defines all-solid-state batteries, requiring ion transport to be entirely achieved through solid electrolytes, establishing a strict technical boundary with hybrid solid-liquid electrolyte batteries. The standard was jointly drafted by the China Automotive Technology and Research Center (CATARC) NEV Testing Center (Tianjin) Co., Ltd. and over 50 other organizations. Its introduction effectively prevents concept hype while providing more unified measurement indicators for material development, process optimization, and equipment adaptation.

"This is like setting up a truth-revealing mirror for the industry," an industry insider commented. In the past, anyone could claim their product was a solid-state battery, but now there is a clear technical boundary.

The capital market reacted swiftly. Recently, solid-state battery concept stocks performed actively, with multiple stocks rising sharply. Companies like Jinlongyu, Great Power Energy, Gotion High-tech, and Lingpai Technology saw significant stock price increases. However, while capital frenzy surrounds solid-state battery concept stocks, the industry is undergoing the most brutal technological elimination race.

New National Standard Fuels Solid-State Industry Boom

From a news perspective, the recent surge in the solid-state battery sector is not only due to the release of the above standard but also related to several positive developments in the industry, especially positive changes from the technical to the corporate side.

Technically, Wang Chunyang, a researcher at the Shenyang National Laboratory for Materials Science, Institute of Metal Research, Chinese Academy of Sciences, collaborated with an international team to uncover the cause of sudden short circuits in solid-state batteries at the nanoscale for the first time using in-situ transmission electron microscopy. They proposed corresponding countermeasures, providing new insights into the nanoscale failure mechanisms of solid electrolytes and a new theoretical basis for the development of new-type solid-state batteries.

On the corporate side, Gotion High-tech announced the completion of a 0.2GWh all-solid-state battery pilot line and simultaneously released six new products, including the G-Yuan quasi-solid-state battery, which has already been tested by more than four customers.

Jinlongyu's subsidiary, Jinlongyu New Energy (Shenzhen) Co., Ltd., signed a procurement order for high-energy-density solid-state battery cells for drones with a customer and stated that the company's research and development of solid-state batteries and related key materials has made certain progress, with some materials already sent to customers for evaluation...

According to a May 28th Securities Times·Data Bao statistics, the average year-to-date increase for solid-state battery sector stocks was 5.32%, with Jinlongyu, Shanghai Xiba, Sanxiang New Materials, GSP Automotive Group, and seven other stocks leading the gains, all rising over 30%. Additionally, since May, nearly 20 solid-state battery concept stocks have seen leveraged capital inflows, with BYD and Gotion High-tech leading in net leveraged capital purchases at 1.02 billion yuan and 152 million yuan, respectively. Companies such as Cnano Technology, Ronbay Technology, Lead Intelligent Equipment, and Easpring Technology also saw significant increases in margin funding.

Battery.com.cn noted that recently, the new national mandatory standard for power battery safety, GB 38031-2025 "Safety Requirements for Traction Batteries of Electric Vehicles," was approved and issued by the State Administration for Market Regulation and the Standardization Administration of China. It will officially come into effect on July 1, 2026. The standard revises three rigorous tests: thermal runaway protection, bottom impact, and fast charging cycles, and requires batteries to "not catch fire or explode."

The release of the new national standard is not only a response to the rapid development of the NEV industry but also an important driving force for forcing technological innovation in the sector. The revision of relevant standards is not intended to eliminate certain battery enterprises, but if some companies' product capabilities cannot keep up with the pace of the times, survival of the fittest is a normal outcome. This event marks a significant period for the power battery industry's transition from "quantity" to "quality."

Meanwhile, the stringent safety requirements of the new national standard serve as a direct driving force for the industrialisation of solid-state batteries. For example, the thermal runaway test requires battery packs to not catch fire or explode after thermal runaway. Traditional liquid batteries achieve this by adding insulation layers, fireproof materials, and other "additions," whereas solid-state batteries have a wider operating temperature range, better heat resistance, and their solid electrolytes possess high-temperature resistance, non-flammability, and good insulation properties, naturally meeting this requirement.

Previous analysis by Wanlian Securities pointed out that the upgrade of safety standards in the new national standard will further enhance the urgency of demand for solid-state batteries and accelerate the industrialisation process. The implementation time of the new national standard is close to the expected mass production time of solid-state batteries, which is expected to increase the adoption rate of solid-state batteries in new car models.

Research institution EVTank predicts that all-solid-state batteries will achieve small-scale mass production in 2027 and reach larger-scale shipments by 2030, with global shipments of solid-state batteries reaching 614.1 GWh, of which the proportion of all-solid-state batteries will be close to 30%.

The Truth Behind the Booming and Struggling Solid-State Battery Industry

"Investors are eager to see these batteries installed in vehicles tomorrow, but in reality, we are still struggling with interfacial resistance."

Currently, expectations within the industry for the speed of solid-state battery technology commercialisation have increased. However, the path is not as smooth as imagined, and the industrialisation process of solid-state batteries still faces numerous issues and challenges.

Some industry insiders have stated that the mass production time for all-solid-state batteries by mainstream battery manufacturers will generally be around 2027, but this time point can only be considered as the technical achievement time, not the commercialisation time. Currently, the core focus of most enterprises lies in technological R&D. Only after achieving technological breakthroughs and a rapid increase in capacity will they further consider cost reduction across the industry chain.

Therefore, despite the significant advantages of solid-state batteries in terms of safety and energy density, at this stage, technology and cost remain major obstacles to the commercialization of solid-state batteries.

On one end, there is an accumulation of capital and policy dividends, while on the other end, there are interface challenges. Faced with the technological gap ahead, the industry is actively promoting the development of semi-solid-state batteries as a transitional solution.

According to EVTank data, global shipments of solid-state batteries reached 5.3 GWh in 2024, marking a substantial 4.3-fold YoY increase. All of these were semi-solid-state batteries, primarily produced by Chinese enterprises. Among the main technological routes, polymer electrolytes and oxide electrolytes are mainly used in current semi-solid-state batteries, while sulphide and halide electrolytes are primarily intended for future all-solid-state batteries, with a small portion used for doping in semi-solid-state batteries. In 2024, polymer and oxide electrolytes accounted for over 98% of shipments in China, with a small amount of sulphide and halide electrolytes being used.

EVTank predicts that with the gradual industrialisation of all-solid-state batteries, the share of sulphide electrolytes in shipments will gradually increase. It is expected that by 2030, the overall share of sulphide electrolytes in shipments will reach 29.5%, with their market share in all-solid-state battery electrolytes reaching 65%.

It is understood that China's solid-state battery industry chain has already presented a well-defined competitive landscape.

Among the established battery enterprises, CATL is developing sulphide + polymer composite electrolyte technology; BYD is committed to integrating blade battery technology with sulphide; Ganfeng Lithium has formed a comprehensive layout across the entire solid-state battery chain, possessing R&D and production capabilities in key areas such as sulphide electrolytes and raw materials, oxide electrolytes, and other critical components of solid-state batteries.

Emerging enterprises are mainly composed of companies such as WELION New Energy, Qingtao Energy, and Tailan New Energy, aiming to advance the installation of semi-solid-state batteries and gradually achieve the R&D and production of all-solid-state batteries.

EVTank concluded in its white paper that solid-state batteries are rising with an unstoppable momentum, becoming a new battleground for competition in the new energy sector. Enterprises and major R&D platforms are continuously addressing the existing issues of solid-state batteries: for instance, improving ion transport through methods such as doping and interface engineering; and mitigating lithium dendrite growth through the use of additives, coatings, and structural designs. Additionally, with the introduction of artificial intelligence, the paradigm of material R&D is being transformed, significantly enhancing the R&D efficiency of all-solid-state batteries and increasing the likelihood of their early industrialisation.

It is worth mentioning that in order to seize the next-generation technological opportunities, countries such as Japan, the United States, and Europe have set long-term strategic goals for batteries by issuing relevant policies. All-solid-state batteries are also facing fierce competition from overseas battery giants.

According to foreign media reports, on May 20, the BMW Group announced the official launch of road tests in Munich for the world's first BMW i7 test car model equipped with an all-solid-state battery (ASSB). The BMW i7 model being tested is equipped with large-sized all-solid-state battery cells provided by Solid Power, which utilize sulphide electrolytes.

Therefore, from a strategic perspective, the development of solid-state batteries is not merely following the trend, but a necessary path to master the core of future new energy development. It requires research institutions and enterprises to focus on technological breakthroughs, seize the opportunity of technological iteration cycles, and remain invincible in the ever-changing industry cycles.

Conclusion:

Driven by the new national standards, semi-solid-state batteries, as a transitional technology, may take the lead in mass production and be applied in high-end EVs, the low-altitude economy, and other fields. However, the large-scale commercialization of all-solid-state batteries still requires some time for the industry.

Amidst the hype of capital and technological breakthroughs, the industry needs to stay sober. The ultimate value of solid-state batteries lies not in the hype of concepts, but in whether they can truly address user pain points and drive the new energy industry towards comprehensive safety and worry-free driving range.

This battery technology revolution not only concerns the batteries themselves but will also reshape the entire industry chain. For instance, the rise of new sectors such as dry electrode equipment and high-voltage formation and grading equipment, as well as the outbreak of niche areas like lithium metal processing and solid electrolyte materials, are nurturing new industry giants. Meanwhile, solid-state batteries will also define a new position for "Made in China" in the global wave of carbon neutrality.