Stellantis, Daimler's Mercedes-Benz Invest in Battery Maker Factorial Energy
November 30 2021 - 8:03AM
Dow Jones News
By Kim Richters
Auto makers Stellantis NV and Daimler AG's Mercedes-Benz are
investing in Factorial Energy to advance solid-state battery
technology for electric vehicles, the companies said separately on
Tuesday.
While Stellantis didn't disclose the size of its strategic
investment in the U.S.-based battery maker, Mercedes-Benz said its
investment is a high double-digit million dollar amount.
"Solid-state batteries are currently one of the most promising
technologies in the field of electric mobility. The decisive
difference is the use of an electrolyte made of solid material
instead of the commonly used liquid electrolyte," said
Mercedes-Benz.
The premium-car maker plans to use the technology, which it said
should increase driving range and shorten charging time, in a
limited number of vehicles in the next five years.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
November 30, 2021 07:48 ET (12:48 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.