Sunday, January 23, 2022

Mercedes & Stellantis invest in Solid State Battery Firm Factorial Energy

Mercedes-Benz and Stellantis have taken a stake in Factorial Energy. Factorial Energy is a US based developer of solid-state battery cells. In addition to their financial participation, both carmakers have also agreed on development cooperations with Factorial Energy. Mercedes wants to launch a small series of batteries by the end of 2026.

The exact amounts invested are not disclosed. Mercedes COO Markus Schäfer is only quoted as saying that they are investing a “high double-digit million amount” in Factorial. Stellantis did not issue a statement yet.

The solid-state battery developer had already announced a development agreement and a strategic investment with Hyundai and Kia at the end of October. No sums were mentioned then either.

As Factorial CEO Siyu Huang indicates, the partnerships are intended to “accelerate our ability to commercialise our core technology”.

“With our new partners, we can develop batteries that not only enable safer, longer-range vehicles, but are also compatible with traditional lithium-ion battery production environments,” the executive said, according to her company’s announcement.

The US company had announced a 40 Ah cell with solid electrolyte this April, which is expected to help electric cars achieve 20 to 50 per cent more range.

Mercedes-Benz says it plans to test the first cell prototypes in 2022. Within the next five years, the first use of the technology is to take place “in small series in a limited number of vehicles”, according to the Stuttgart-based company.

The fact that Mercedes-Benz and Stellantis are acting in tandem in this investment in a battery specialist should also be seen against the background of the existing partnership: As reported, the German carmaker took a stake in the Franco-German battery joint venture ACC in September, which Stellantis had set up together with the energy group Total.

See also  Proterra to build battery assembly plant in South Carolina

“With Factorial as our new partner, we are taking research and development in the field of promising solid-state batteries to the next level,”

says Mercedes board member Schäfer.

“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.”

says Mercedes board member Schäfer.

“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.”

said Carlos Tavares, CEO of Stellantis.
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