Stellantis Further Accelerating Electrification Push
Stellantis N.V., through its affiliate, completed an investment round in Factorial Energy (Factorial) as part of Factorial’s Series D round of funding, together with other investors. Funding will be used to accelerate commercial production and deployment of Factorial’s solid-state battery technology that is robust and offers up to 50 percent greater driving range than current lithium-ion technology.
“Stellantis is full-speed ahead on its electrification transformation with 33 electrified models available right now, and eight battery electric vehicles coming in the next 18 months,” said Carlos Tavares, CEO of Stellantis. “With our partners, including Factorial, we will quickly electrify our brand portfolio with safe, sustainable, and affordable solutions.”
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 is constructing a state-of-the-art pilot production facility that will enable the company to scale its large format cell output and produce batteries for customer testing. The facility will be located in the New England area and the construction is scheduled to start in early 2022.
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