BMW and Ford announced an investment in Solid Power

On May 3, BMW and Ford announced a $130 million investment in Solid Power, a US Solid state battery company, along with other investors.
After the capital injection, BMW and Ford will own equal shares in the company.

Although both carmakers now have a stake in Solid Power, that does not mean they will be using exactly the same technology.
For example, Ford has a separate joint development agreement with the battery company to develop and test its specific battery designs and "help simplify Ford's integration in future vehicles."
BMW has also expanded its joint development agreement with solid power.

In October 2020, Solid Power officially announced that it has produced the first generation of all Solid state battery (ASSB) prototypes, which are ready for launch in 2021 and for use in vehicles in 2026.
Solid Power claims that each battery, which contains no liquid or gel material, is truly solid-state and has an energy density of up to 320Wh/kg.

Solid Power is a leading solid-state battery technology startup founded in 2012 with funding from the University of Colorado at Boulder and the Defense Advanced Research Projects Agency (DARPA).