Mercedes-Benz and Stellantis invest big in solid-state batteries
Heavy new investment in Factorial Energy set to speed development of next-gen EV battery techMercedes-Benz and Stellantis have joined the likes of Kia and Hyundai by investing heavily in US-based Factorial Energy in an effort to speed up the development of next-gen solid-state batteries.
Benz's CEO Markus Schäfer refused to divulge exactly how much it is ploughing into Factorial Energy, but told reporters it was a "high double-digit million-dollar amount".
It's been reported that the investment from both car-makers will help Factorial Energy shoulder the cost of commercialising its solid-state battery technology, with production expected to begin shortly.
Off the back of the announcement, Mercedes-Benz has confirmed it will introduce a "limited number of vehicles as part of a small series within the next five years", confirming prototypes powered by solid-state batteries will begin testing as soon as next year.
Stellantis, meanwhile, is being more cautious off the back of its undisclosed investment, claiming its first solid-state battery-powered vehicles won't be rolled out until 2026 at the earliest.
All four car-makers were attracted to Factorial because its solid-state electrolyte tech is claimed to be far safer than a conventional lithium-ion cell, while offering energy densities that are claimed to offer 50 per cent more range than today's cells.
The same tech is thought to be capable of withstanding far higher charging rates than today's batteries.
The other advantage of Factorial's batteries is they can 'drop-in' easily to cars that are currently being developed for lithium-ion cells, meaning engineering cycles will not be disrupted during the switch to solid-state batteries.
As well as the deal with the US battery-maker, Stellantis has also announced another deal with Perth-based Vulcan Energy Resources that has agreed a five-year deal to supply battery-grade lithium hydroxide.
Vulcan uses geothermal energy to produce lithium hydroxide from brine instead of fossil fuels.
Firming up a supply chain of lithium hydroxide will help Citroen, Peugeot, Opel, Alfa Romeo, Fiat and the Maserati brand electrify 98 per cent of their respective range by 2025.
Related: Volkswagen Group solid-state EV batteries still a decade away
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