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”.
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.