Factorial Partners with Hyundai Supplier to Tackle Key Challenge in Solid-State Batteries

Key Takeaways

Factorial Energy partners with SK On to explore mass production of solid-state batteries.
The startup’s semi-solid-state batteries are being tested in prototype EVs with notable performance.
SK On’s extensive manufacturing capabilities aim to facilitate scaling of Factorial’s technology.

Collaboration Details

Massachusetts-based Factorial Energy has announced a memorandum of understanding with South Korean battery manufacturer SK On. This collaboration will investigate the potential for mass production of Factorial’s solid-state batteries using SK On’s established lithium-ion production lines.

Factorial has become a leader in solid-state battery technology, already partnering with major automotive brands including Mercedes-Benz, Stellantis, and Hyundai for real-world prototype testing. Earlier this year, a prototype Mercedes-Benz EQS, outfitted with Factorial’s semi-solid-state battery, achieved an impressive 749 miles on a single charge, with a further estimated range of 84 miles when it reached its destination. Additionally, Stellantis has integrated Factorial’s battery into a prototype Dodge Charger Daytona as part of its on-road testing efforts.

The appeal of solid-state batteries lies in their higher energy density, quicker charging times, and enhanced safety due to the elimination of flammable liquid electrolytes, which are replaced by solid materials. However, scaling production while minimizing defects has proven challenging. Here, SK On’s extensive global battery manufacturing expertise could provide the necessary support to overcome these hurdles. Factorial’s CEO, Siyu Huang, emphasized that advancements in battery technology must translate into scalable manufacturing solutions.

SK On’s Manufacturing Capacity

SK On holds a significant position in the battery industry, supplying batteries to prominent automakers like Hyundai, Kia, Ford, Volkswagen, and Ferrari. The company boasts an annual battery manufacturing capacity of approximately 200 gigawatt-hours (GWh) worldwide, with about 100 GWh based in the U.S. However, the company has recently scaled back its U.S. operations due to the elimination of federal electric vehicle incentives last year, which affected EV demand. Additionally, SK On and Ford ended their joint venture to pursue opportunities in the burgeoning stationary energy storage market.

Factorial Energy has also entered into similar non-binding agreements with other significant players, such as LG Chem and South Korean suppliers Philenergy and Posco Future M. The understanding with SK On is likewise non-binding, meaning either party can withdraw if the partnership does not yield significant advancements in manufacturing capabilities.

This collaboration could mark a vital step towards bringing high-performance solid-state battery technology to the market, benefiting both companies and the broader electric vehicle industry.

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