Factorial loves to quote Thomas Edison who in 1883 said the following:
"The storage battery is, in my opinion, a catchpenny, a sensation, a mechanism for swindling the public by stock companies."
Factorial states that this sentiment is true and has been held over the last 138 years till now.
Investing in solid-state battery R&D over the last 6 years has allowed Factorial to create their proprietary FEST (Factorial Electrolyte System Technology).
Factorial held their grand opening ceremony at their state-of-the-art solid-state battery production facility in Methuen, Mass.
Siyu Huang, CEO of Factorial stated the following:
“We are thrilled to open our next-generation battery facility in Massachusetts as we scale our batteries for mass production,” said Siyu Huang, CEO of Factorial. “This facility will enable us to manufacture cells to meet the needs of our automotive partners and progress our mission to commercialize solid-state batteries. As a U.S. company, we’re also proud to contribute to the onshoring of battery manufacturing for EVs and advancement of battery innovation for a differentiated supply chain.”
This opening represented a $50 million investment and creation of over 150 local jobs. The current footprint of this facility will enable Factorial to ramp up Solid-State battery production to a maximum output of 200MWh annually, making this the largest solid-state battery assembly line in the U.S.
Former Chairman and CEO of Panasonic Corporation of North America and current Executive Chairman of Factorial, Joe Taylor made the following statement:
“Factorial continues to drive the battery industry forward and this milestone is no exception, automaker demand for American-made batteries is high to produce electric or hybrid vehicles that qualify for incentives. Our facility will manufacture automotive-sized solid-state batteries at pre-production speed and volume, illuminating a clear path to mass production and reaching economies of scale.”
Factorial quasi-solid-state batteries are designed for higher energy density and safety compared to today's lithium-ion wet batteries.
At the start of October 2023, Factorial started to ship to EV auto companies' samples of their 100+Ah lithium-metal battery cells sized to meet the needs of the auto industry and certified passing the UN 38.3 safety tests.
Stellantis, one of the few auto manufacturers to go on record has stated that Factorial Energy solid-state batteries are 30% denser than today's lithium-ion batteries. This allows Stellantis to deliver two ways, lighter vehicles and those that have a much longer driving range.
Stellantis back at CES 2023 keynote stated that they are working with Factorial to deliver a second-generation version that will be 50% denser than today's lithium-ion batteries.
The 100 Ah solid-state battery cells are delivering on the promises Factorial has made and looks that a second generation battery cell expected by 2030 could give Stellantis and other auto companies that have invested a future of where the auto industry will be going in this decade as Factorial has stated that their solid-state cells will provide a 20 to 50 percent higher energy density based on use case and that it directly translates to a 20 to 50 percent greater range.
Could this be a potential jump on finally moving society to EVs?