Stellantis and Factorial Energy have announced the signing of a joint development agreement to advance Factorial’s high-voltage traction solid-state battery technology for its range of electric vehicles (EVs).
The agreement also includes a strategic investment from Stellantis, who are one of the world’s leading automakers with 14 motor brands including Vauxhall, Peugeot, Fiat, Citroen and Jeep.
Carlos Tavares, Stellantis CEO, said: “Our investment in Factorial and other highly recognised 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.”
Factorial has developed breakthrough solid-state technology that addresses the key issues holding back wide-scale consumer adoption of electric vehicles including driving range and safety. These new batteries are drop-in compatible for easy integration into existing lithium-ion battery manufacturing infrastructure.
Factorial’s solid state batteries offer up to an almost doubled energy density compared to lithium-ion battery cells. This not only offers an increase of up to 50 percent in range but shorter charge times too. Plus, they’re safer too.
Siyu Huang, Factorial Energy co-founder and CEO, said: “It is a great honour to partner with Stellantis, a leading global mobility player, which has some of the most iconic auto brands in the world.
“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 program in July 2021 its target of having the first competitive solid state battery technology introduced by 2026.
Factorial Energy, who are based in Woburn, Massachusetts, are grabbing the attention of many automakers when it comes to electric car batteries. Only yesterday, Mercedes-Benz announced they would be working with Factorial for batteries in their electric vehicles.