Factorial Energy, a solid-state battery developer, has signed a memorandum of understanding (MoU) with LG Chem, a global battery materials developer, to advance the development of solid-state battery materials.
As such, the two companies intend to combine LG Chem's battery material capabilities and Factorial's next-generation battery material and process innovations to develop solid-state battery technologies.
Analyst QuickTake: This partnership follows Factorial's announcement in October 2023 that it opened a new battery manufacturing plant in Methuen, Massachusetts. The facility is key to the company scaling the production of its solid-state batteries for EVs. The facility will accommodate a production capacity of up to 200 MWh and stands to be the largest solid-state battery assembly line in the US. During the same month , Factorial also shipped A-samples of its 100+ Ah Factorial Electrolyte System Technology solid-state battery cells to automotive partners such as Mercedes-Benz, Hyundai Motor Group, and Stellantis for testing.
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