November 30, 2021
Stellantis and Factorial Energy to Jointly Develop Solid-State Batteries for Electric Vehicles
AMSTERDAM - Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) and Factorial Energy (Factorial) announced today the signing of 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 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 program in July 2021 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 is one of the world’s leading automakers and a mobility provider, guided by a clear vision: to offer freedom of movement with distinctive, affordable and reliable mobility solutions. In addition to the Company’s rich heritage and broad geographic presence, its greatest strengths lie in its sustainable performance, depth of experience and the wide-ranging talents of employees working around the globe. Stellantis will leverage its broad and iconic brand portfolio, which was founded by visionaries who infused the marques with passion and a competitive spirit that speaks to employees and customers alike. Stellantis aspires to become the greatest, not the biggest, while creating added value for all stakeholders, as well as the communities in which it operates.
About Factorial Energy
Based in Woburn, Massachusetts, Factorial Energy has developed breakthrough solid-state batteries that offer 20 to 50 percent longer range per charge, increased safety, and cost parity with conventional lithium-ion batteries. The company’s proprietary FEST™ (Factorial Electrolyte System Technology) leverages a solid electrolyte material, which enables safe and reliable cell performance with high capacity cathode and anode materials. FEST™’s electrolyte has been successfully scaled in 40Ah cells, works at room temperature, and can utilize the majority of existing lithium-ion battery manufacturing equipment. The company is integrating its technology with several auto manufacturers. More information can be found at www.factorialenergy.com.
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