Stellantis and Factorial Energy (Factorial) announced earlier this week, that it was signing a joint development agreement to advance Factorial’s high-voltage traction solid-state battery technology. The agreement also includes a strategic investment from Stellantis.
“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,” said Stellantis CEO Carlos Tavares. “Initiatives like these will yield a faster time to market and a more cost-effective transition to solid-state technology.”
Factorial has developed breakthrough solid-state technology that addresses key issues holding back wide-scale consumer adoption of electric vehicles – driving range and safety.
“It is a great honor to partner with Stellantis, a leading global mobility player, which has some of the most iconic auto brands in the world,” said Siyu Huang, Co-Founder, and CEO of Factorial Energy. “It is an incredible opportunity for us to advance the adoption of our clean, efficient, and safe solid-state battery technology to the mass market.”
Stellantis announced during its EV Day 2021 presentation in July, its target of having the first competitive solid-state battery technology introduced by 2026.
Factorial’s advances are based on FEST™ (Factorial Electrolyte System Technology), which leverages a proprietary solid electrolyte material that enables safe and reliable cell performance with high-voltage and high-capacity electrodes and has been scaled in 40Ah cells that perform at room temperature. FEST is safer than conventional lithium-ion technology, extends driving range, and is drop-in compatible for easy integration into existing lithium-ion battery manufacturing infrastructure.
Stellantis has announced a handful of new joint ventures in the past couple of months, to help accelerate the company’s electrification plan. This included joint ventures with companies like LG Energy Solutions, Samsung SDI, and Vulcan Energy.