Mercedes-Benz and Stellantis have backed the solid-state battery developer, having disclosed strategic agreements a month ago.

US-based electric vehicle (EV) battery developer Factorial Energy completed a $200m series D round yesterday co-led by carmakers Mercedes-Benz and Stellantis, as the automotive industry focuses increasingly on EV-related offerings.

The deal was first revealed last month – though the funding size was undisclosed – alongside independent development agreements with each corporate.

Factorial Energy is working on safe and affordable solid-state batteries that will last longer per charge compared with the more traditional lithium-ion counterpart. It claims its Factorial…

Subscribe to go deeper

GCV subscribers get access to all our proprietary data and deep-dive articles, as well as the global directory of CVC investors.



Not sure if you have a subscription?
Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.