Factorial Energy, Hyundai and Kia have agreed to collaborate to test Factorial’s novel solid-state battery technology and its integration in Hyundai electric vehicles.
Under the joint development agreement, which includes a strategic investment, the companies will integrate Factorial technology at the cell, module and system levels, perform vehicle-level integration, and co-develop specifications for manufacturing Factorial’s batteries.
The announcement is Factorial’s first major strategic investment from a major automotive OEM group and deepens its existing research relationship with Hyundai. “Our partnership with Hyundai is yet another validation of our solid-state battery technology,” said Factorial Energy CEO Siyu Huang. “We can help unlock mass adoption of electric vehicles – and the resulting environmental benefits – through our safe and long-range batteries.”
Factorial bases its technology on Factorial Electrolyte System Technology (FEST) that uses a proprietary solid electrolyte material to enable safe and reliable cell performance with high-voltage and high-capacity electrodes and has been scaled in 40Ah cells that perform at room temperature. The company also claims that FEST is safer than conventional lithium-ion technology, extends driving range by 20% to 50%, and is drop-in compatible for easy integration into existing lithium-ion battery manufacturing infrastructure.
“The Hyundai CRADLE team has been impressed with Factorial’s management team, technology, and novel manufacturing approach, which could make the transition to solid state seamless and cost-effective,” added Henry Chung, SVP and head of CRADLE Silicon Valley. “We look forward to collaborating with our new portfolio company to further advance their technology.”