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Factorial Energy partnering Hyundai, Kia to develop solid state batteries

Factorial Energy is a solid-state battery developer based in Massachusetts. They claim that they developed a breakthrough with their findings for EV batteries. Saying that their solid-state battery can deliver 20-50% longer range per charge. In early November the company announced its partnership with Hyundai Motor and Kia Corp. The investment will go further into integrating vehicles and modules.

Stellantis, Mercedes-Benz invest in solid-state battery developer Factorial Energy | TechCrunch

Image credits- Tech Crunch

Stellantis being a global automotive company, there are fifteen brands under the company from Jeep, Fiat to Ram. Alongside Mercedes-Benz will join Hyundai and Kia to work towards solid-state batteries. Mercedes Benz is also expected to jointly develop agreements to invest in Factorial Energy’s work.

Factorial Energy’s result is from FEST- Factorial Electrolyte System Technology. It utilizes a solid electrolyte material that is safer and has high-capacity electrodes at a similar price value compared to lithium batteries. All the companies that invested in this technology made separate announcements. This included optimism about a fully electric future. There have been significant breakthroughs in the Factorial’s developments and the excitement continues towards solid-state battery technology.

Stellantis pledges a 2026 target earlier, for which they need a strong technology backup for their vehicles. They announced the joint development agreement by investing in Factorial. Stellantis CEO Carlos Tavares spoke,

“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. Initiatives like these will yield a faster time to market and more cost-effective transition to solid-state technology.”

Mercedes Benz announcement

Mercedes-Benz shared similar vague details about the undisclosed investment in Factorial’s solid-state EV batteries, but its joint agreement had additional terms. The German automaker plans to test Factorial’s technology as part of a limited series over the next five years. Mercedes-Benz Cars COO Markus Schäfer, also spoke:

“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. 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.”

 

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