The energy storage technology company BioSolar has claimed a breakthrough in the field of lithium-ion batteries, according to a recent press release.

To be more specific, the company has claimed that a technology that it's currently developing can significantly expand the life, increase the energy capacity, and lower the costs associated with lithium-ion batteries.

According to the BioSolar (based on internal analyses), a battery model built using the company's new technology could double the range of a Tesla electric vehicle (EV) while costing roughly 4 times less than its current battery. As well, it could reportedly improve the lifespan of the battery and improve charging times. The company thinks that the technology could allow for a $100/kilowatt-hour milestone to be crossed — potentially leading to far greater EV sales numbers. (Note that it's widely assumed Tesla's battery packs cost well under $400/kWh — closer to $200/kWh or $300/kWh — so that makes the "4 times less" claim quite questionable.)