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…

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Edison Fu

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