Stellantis: completes investment in Factorial
(CercleFinance.com) - Stellantis announced on Thursday that it has completed its investment in Factorial, a US manufacturer of solid state batteries.
The automotive giant said the funding is part of a Series D round of financing by the Massachusetts-based company.
The funds are to be used to accelerate the commercial production and deployment of Factorial's solid-state batteries, which are expected to offer up to 50% more range than current lithium-ion technology.
Factorial is currently building a pilot production facility, with the aim of expanding the capacity of its large format cells and producing batteries for customer trials.
Work is expected to start in early 2022, in New England.
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