Even with gas prices soaring above $4.00 a gallon in some places, it’s still uncertain if this will push electric vehicle (EV) adoption into its next growth phase.

This isn’t because drivers don’t want a cheaper way to fuel their cars; it’s because electric vehicles aren’t a perfect solution. Top of mind for drivers is how far they can get on a charge. It’s called range anxiety, i.e., the fear that the car will run out of battery power before reaching a charging station.

Today, most EVs deliver a range exceeding 200 miles per charge. And while this exceeds the average daily commuting distance for U.S.drivers, the psychological barrier is very real, and won’t likely be assuaged until we start seeing EVs deliver ranges that exceed those of gas-powered cars.

That will be a game changer. That’s what could take electric vehicles from a niche segment to a mainstream market leader. And that’s what could usher in the next round of electric vehicle profits.

A 930-mile electric car

Next year, China’s Chery Automobile will begin testing a new EV battery with a range of roughly 930 miles. To put that in perspective, that’s enough to take you from New York City to Jacksonville, Florida, without having to stop once to recharge.

This particular battery is a solid-state battery, and many believe it will become the battery of choice for the next generation of EVs.

You see, with solid-state batteries, electric cars can travel further on a single charge and recharge a lot faster than today’s electric cars.

These have long been two of the major obstacles to EV adoption. As long as retail pricing remains comparable to that of gas-powered vehicles, electric cars powered by solid-state batteries could drive a meaningful transition to vehicle electrification. In theory, that means a meaningful opportunity for investors keen to profit from the next technological breakthrough in transportation. But in practice, we’re not quite there yet.

Why this breakthrough comes with strings attached

It’s easy to get caught up in the hype of disruptive technologies. From AI to humanoid robots to electric cars that can travel nearly 1,000 miles on one charge, it can sometimes sound too good to be true. And in some cases, it is. At least from an investment perspective.

Indeed, we’re likely less than 10 years away from commercially viable electric cars that will travel more than 900 miles on a single charge. And there are a number of battery companies you can invest in today that are leading this charge. But that doesn’t mean they don’t carry significant risk.

Take Solid Power (SLDP 1.95%), for instance.

Solid Power is a unique play on solid-state batteries because its technology is designed to work with existing battery manufacturing lines. That’s not a trivial differentiator, as most companies in this space are developing entirely new systems that could require building new factories from scratch. Solid Power, on the other hand, is trying to fit into the system that already exists.

Solid Power

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Rather than becoming a large-scale battery manufacturer itself, the company plans to license its technology to automakers and battery producers and is already working with partners including BMW, SK On, and Samsung SDI.

Solid Power is a serious player in solid-state battery technology. But it’s also a pre-revenue, R&D-heavy company that posted a $93 million net loss in 2025. Total liquidity at the end of 2025 was $336.5 million, so it has some room to get through the development and pilot stage, but probably not to full-scale commercialization. And if history is an accurate indicator, this could mean potential dilution for shareholders.

The company’s share count has already increased significantly since going public, rising from roughly 70 million shares in the early 2020s to over 220 million. Solid Power has continued to issue equity as well. Most recently, from a $130 million capital raise in early 2026.

SLDP Shares Outstanding data by YCharts

Of course, this kind of thing is not uncommon for pre-revenue companies that need to fund research and development and move toward commercialization.

No one can see the future for Solid Power, but the company is one of the most practical solid-state battery plays in the market, and if the technology proves to work at scale, it could be adopted faster than its competitors because it doesn’t require the industry to start from scratch.

Solid Power is in an excellent position to be a leader in the solid-state battery space and could benefit from the move to batteries taking cars farther on a single charge. But in these early days, it’s clearly not for the risk-averse.