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Solid-state battery manufacturer Factorial Energy has entered into Joint Collaboration Agreements with Stellantis and Mercedes-Benz, with both also making strategic investments in the company.
Massachusetts-based Factorial, which has developed battery tech that offers 20-50% longer range per charge, increased safety, and is cost-competitive with lithium-ion batteries, already has agreements in place with Hyundai and Kia.
“These partnerships will accelerate our ability to commercialize our core technology,” says Factorial Energy CEO Siyu Huang, Ph.D.
“With our new partners we can develop batteries that not only enable safer and longer driving range vehicles, but that are also compatible with conventional lithium-ion battery manufacturing environments.”
Factorial also claims that its batteries have “drop-in compatibility with existing lithium-ion” manufacturing infrastructure.
Factorial’s advances are based on FEST (Factorial Electrolyte System Technology), which leverages a proprietary solid electrolyte material to deliver safe and reliable cell performance with high-voltage and high-capacity electrodes at room temperature.
Earlier this year, the company became the first to reach the 40 amp-hour benchmark at room temperature.
“By accelerating our Mercedes-Benz strategy towards ‘Electric Only’, we have set the course for a fully electric future. We will also play a leading role in the field of battery technology. With Factorial as our new partner, we are taking research and development in the field of promising solid-state batteries to the next level. To this end, we are investing a high double-digit million dollar amount in Factorial,” says Markus Schäfer, Member of the Board of Management of Daimler AG and Mercedes-Benz AG and responsible for Daimler Group Research and Mercedes-Benz Cars COO.
“With this cooperation, we combine Mercedes-Benz’s expertise in battery development and vehicle integration with the comprehensive know-how of our partner Factorial in the field of solid-state batteries. We share the common vision of CO2 neutrality. The continuous development of innovative battery technologies will make electric mobility even more attractive for our customers.”
“Our investment in Factorial and other highly recognized battery partners boosts the speed and agility needed to provide cutting-edge technology for our electric vehicle portfolio,” adds Stellantis CEO Carlos Tavares.
“Initiatives like these will yield a faster time to market and more cost-effective transition to solid-state technology.”
Top image: Factorial CEO Siyu Huang holds one of the company’s cells.