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One of the biggest hurdles in EV adoption has been range anxiety. In the segment's infancy, you'd be lucky to get 15 miles on a full charge, meaning that battery power only made sense in fleet vehicles. Modern EVs typically go 200 or more miles on a full charge, but it's still not enough for some drivers.
That's where Geely's solid-state battery tech comes in, promising over 600 miles on a single charge, easily outrunning many ICE vehicles. Good news for new EV buyers, but maybe not so much for anyone hoping to sell a used Tesla.
Geely's Solid-State Battery Doubles Tesla's Energy Density – And Lasts Longer Than Most Engines
The latest news on Geely's self-developed solid-state battery pack is that the brand is running vehicle tests this year before rolling them out at a production level. Here's what makes these batteries so special.
- They're solid-state, meaning that they use solid materials like ceramics, glass, and polymers, rather than flammable liquids. This means that we don't have to worry so much about thermal runaway and garage fires (still a risk with solid-state batteries, but not as much of a risk).
- The batteries boast an energy density of 400 Wh/kg. To put that into perspective, the Tesla 4680 battery cell found in the Tesla Cybertruck has an energy density of 241 Wh/kg.
- Geely is targeting a driving range of 1,000 km, or about 621 miles.
- Geely is targeting a 621,000-mile lifespan, meaning that these batteries will outlast some Toyota engines.
- The improved energy density will help bring battery weight down. Final weight targets have not been released, but it doesn't take a mathematician to estimate that doubling the energy density can cut the weight in half. EV batteries are the heaviest part of the car. The Hummer EV's battery pack weighs in at a whopping 2,923 lbs, making it a danger to other drivers on the road.
The technology sounds transformative on paper. But what does it mean for the 10 million Americans who already bought an EV expecting it to hold its value?
EVs Are Already Lousy At Retaining Value
It's easy to see how this technology is set to revolutionize electric vehicles. Family vehicles may see their range doubling. Performance models can shave hundreds of pounds off the curb weight. Battery longevity won't even be a topic of conversation anymore, with solid-state packs outlasting some of the most reliable powerplants on the road.
If you haven't bought into the electric dream just yet, this could be just the thing to push you off the fence and get you on board. The next generation of EVs will be more powerful, more practical, more efficient, and more dependable than any electric vehicle on the road today.
On the other hand, if you just bought a Tesla or a Hyundai Ioniq 5, you may feel like you chose the worst possible time to buy into the next big thing.
Geely's new battery tech will certainly have an adverse effect on resale and trade-in value for anyone who owns an EV at the moment. But the truth is that EVs are a poor segment to begin with for anyone who wants to trade their car in at a fair price three or five years down the line.
CarEdge estimates that a Tesla will lose 30% of its value in the first year alone. At five years, you're lucky if the car is worth half its sticker price, and, after a decade, CarEdge sees a Tesla holding less than a fifth of its original MSRP. Our own price-tracking tool sees an entry-level 2021 Model Y trending at $24,382 after just five years on the road.
The 2021 Model Y Performance AWD, launching at an MSRP of $63,990, is currently trending at $27,862, or about 44% of its initial price.
Rapid Tech Advances Are Already Crushing EV Resale – And Geely Just Hit Fast-Forward
There are a lot of reasons why EVs are terrible at holding their value.
- EVs typically start at a higher MSRP than comparable ICE vehicles, meaning they have more value to lose.
- Those tax credits are long gone, meaning used EV sellers have to raise their prices to make up the difference.
- Used EV buyers have read all about battery longevity. It turns out EV batteries probably last longer than we thought, but the average consumer hasn't gotten that memo. Not everyone follows JD Power as closely as the enthusiast press.
- Many EV drivers lease, rather than buy, meaning the market is flooded with a constant influx of three-year-old models.
- Finally, and this is the big one; rapid tech changes. It's not just Geely. The average range for an EV in 2018 was under 200 miles, according to the Department of Energy. In 2026, that number is closer to 300 miles. It's not just that the latest EVs have all the shiny new bells and whistles, they're actually better cars by every objective measure.
These are all good reasons to lease an EV rather than buy one. In many instances, it makes more financial sense to own what you drive and absorb the long-term repair costs to get the most value out of your purchase. Many EV drivers would be best advised to lease, though, so they're not stuck with an obsolete and practically worthless electric car in three, five, or eight years.
Geely's Solid-State Batteries Will Amplify The Rapid Depreciation Of Current EVs
The most obvious effect of Geely's solid-state batteries will be lower prices on used models. If you're a used car shopper, that's great news, as it means you have dirt-cheap Mustang Mach-Es and F-150 Lightnings to look forward to. In other words, if you've been putting off buying an EV, you might as well put it off a little longer. The new ones are about to be a lot more efficient, and the used ones are about to be a lot cheaper.
If Solid-State Batteries Kill the EREV, What Happens to Ram REV Resale Values?
Extended range electric vehicles (EREVs) are a really cool solution to range anxiety, utilizing an onboard engine as a gas generator, while relying on the battery and electric motor to actually handle propulsion. EREVs are appealing because they let you solve range anxiety by simply bringing a gas can along, and you can fuel up at any gas station.
But, if a solid-state battery can go 621 miles on a full charge, it's hard to imagine there being much need for an EREV, and you have to wonder what the future looks like for extended-range EVs like the Ram 1500 REV, the Grand Wagoneer REEV, and the F-150 EREV set to replace the F-150 Lightning.
On the other hand, just imagine how much mileage you could get out of solid-state batteries and a full tank of gas. We don't know that anyone would actually need to be able to go 1,000 miles on a single fill-up, but driving from New York to Los Angeles and only stopping twice would be pretty cool.
Geely's Batteries Won't Be Hitting The US Anytime Soon
At present, there are no plans to bring Geely's solid-state batteries to the US, and tariffs ensure that this is likely to remain the case for the foreseeable future. However, Ford, GM, Stellantis, Rivian, and Karma Automotive, a California-based luxury automaker, are all working on solid-state batteries here in the US. European and Asian brands like Mercedes-Benz, Toyota, BMW, Nissan, and Honda are all investing in solid-state EV batteries, as well.
Nissan is committed to a solid-state batteryrollout in 2028. Ford and BMW have been inching toward solid-state batteries for years.
It may still be a little while before solid-state batteries become the norm, but Geely's batteries are in the final stages of testing and development before a commercial launch, and the rest of the industry won't be far behind. It would be the understatement of the year to say that this represents one of the biggest tipping points in the history of the automotive industry.
