Mercedes-Benz announced that it is investing “a high double-digit million dollar amount” in Woburn, Massachusetts-based battery technology company Factorial. The investment is intended to accelerate the development of solid-state batteries.
“With Factorial as our new partner, we are taking research and development in the field of promising solid-state batteries to the next level,” said Markus Schäfer, head of Daimler Group R&D and Mercedes Cars COO. “With this cooperation, we combine Mercedes-Benz‘s expertise in battery development and vehicle integration with the comprehensive know-how of our partner Factorial in the field of solid-state batteries.”
The automaker says that together with Factorial, it will develop next-generation battery technology with the aim of testing prototype cells as early as next year. From there, the goal is to work its way towards entire battery modules to integrate into vehicle batteries.
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The automaker goes on to say that it intends to integrate solid-state battery technology into a limited number of vehicles as part of a small series within the next five years.
“For Factorial Energy, it is a privilege to collaborate with Mercedes-Benz, which basically invented the automobile,” said Siyu Huang, co-founder and CEO of Factorial. “We look forward to working with them to further innovate the automobile with our clean, efficient, and safe solid-state battery technology.”
Along with its access to the technology, Mercedes’ investment will also allow it to delegate one representative in Factorial’s Board of Directors.
The promise of solid-state technology has appealed to many automakers, all of whom are attracted to the battery’s energy density and safety. By opting for a solid electrolyte instead of a liquid one, batteries can offer more range and shorter charging times. Having promised to invest heavily in electric vehicles, the technology’s importance is clear to Mercedes.
