This article by Eudora Wang originally appeared on China Money Network, the best data intelligence platform tracking China’s tech and venture capital markets (access requires subscription).

Solid-state batteries will power half of the electric vehicles in 2030, up from practically zero right now, predicts a Taiwanese company. As EV sales are expected to increase in the decades ahead, driven by tighter regulation, solid-state battery makers may become the next rising stars in the renewable energy industry.

“I think overall solid-state battery products will account for a small proportion in the market by 2024 and 2025, because not many market players will have the capability to realize mass production. However, I think solid-state battery products will take up more than 50% market share by 2030,” said Taiwanese solid-state battery maker ProLogium Technology’s founder and CEO Vincent Yang Sinan in a phone interview with China Money Network last month.

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