Electric vehicles (EVs) are set for a major leap forward with a new battery capable of delivering a 1,000-mile range on a single charge. This new battery technology from 24M, a company spun out of MIT, could significantly enhance the longevity and resale value of EVs, addressing key concerns for potential buyers that have so far slowed down the complete phase-out of fossil fuel-powered vehicles.

The extended range of this new battery means that it will rarely need a full rapid charge, which can damage traditional batteries and shorten their lifespan. Quick charges typically harm battery health, but with a longer range, only minor top-offs are necessary, preserving the battery’s integrity.

Value and Miles

This improvement in battery durability directly translates to better resale value for EVs. Currently, electric cars depreciate faster than their gasoline counterparts, partly due to battery degradation. However, the new battery system is designed to last up to 500,000 miles and potentially even a million — and this could dramatically shift this trend in favor of EVs.

“The idea of buying an EV that has maybe a couple of hundred thousand miles on it is now something that’s very doable and acceptable,” Rich Chleboski, 24M’s chief financial officer, told Fast Company. “And you can get a good value for your vehicle on resale.”

Extended range is crucial for wider EV adoption according to a recent report by McKinsey & Company. The report highlights that “Range anxiety is a key barrier to EV adoption, with consumers concerned about running out of battery power before reaching their destination, especially on long trips.”

The key innovation lies in the use of lithium metal instead of lithium-ion. Lithium metal batteries use lithium in its metallic form as the anode, which provides a higher energy density compared to lithium-ion batteries that use lithium compounds for the anode. This higher energy density allows for greater storage capacity and longer range.

A Safer Li Battery

Despite past safety concerns with lithium metal batteries, 24M’s unique separator design prevents dendrite formation—metallic growths that can cause short circuits and fires.

Moreover, 24M’s batteries incorporate semisolid electrolytes mixed with other materials, simplifying the manufacturing process and reducing costs. Traditional EV batteries use a binder made from a “forever chemical” called PVDF, which complicates recycling. 24M’s design eliminates the need for this binder, making recycling easier and more efficient.

The company plans to license its technology to battery manufacturers and automakers. The safety separator, called Impervio, is expected to be mass-produced by 2025 or 2026, with the 1,000-mile battery technology potentially being tested by automakers as soon as next year. However, it might take five years before these long-range batteries are commercially available in new cars.