Stellantis NV and Factorial Energy announced a cooperative development agreement to improve Factorial's high voltage solid-state battery technology. Stellantis will also make a strategic investment under the terms of the agreement.
"Our investment in Factorial and other well-known battery partners boosts the speed and agility we require to bring cutting-edge technology to our electric car portfolio," Stellantis CEO Carlos Tavares stated. "Initiatives like these will allow for a quicker time to market and a less expensive move to solid-state technology."
Factorial has created a ground-breaking solid-state technology that overcomes the main obstacles preventing electric cars from becoming more widely accepted: range and safety.
"It is an honor to partner with Stellantis, a major global mobility provider that includes some of the world's most famous car brands," stated Siyu Huang, Factorial Energy's Co-Founder and CEO. "This is a once-in-a-lifetime chance for us to accelerate the adoption of our clean, efficient, and safe solid-state battery technology into the mainstream market."
Stellantis declared its objective of bringing the first competitive solid-state battery technology to market by 2026 during EV Day in July 2021.
Factorial's innovations are based on FEST (Factorial Electrolyte System Technology), which uses a patented solid electrolyte substance. This solid-state battery technology allows for safe and dependable cell performance with high voltage and large capacity electrodes. It has been scaled in 40 Ah cells that operate at room temperature. FEST is safer than standard lithium-ion technology, enhances range, and can be utilized immediately for easy integration into existing lithium-ion battery production infrastructure. @via Stellantis.
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