Hyundai Group, represented by Hyundai Motor Company and Kia Corporation, announced that it has signed a joint development agreement with Massachusetts-based Factorial Energy to test their novel solid-state battery technology and its integration in Hyundai electric vehicles.
The agreement also includes a strategic investment in the battery developer, and both brands of Hyundai Group will integrate Factorial technology at the cell, module, and system levels, perform vehicle-level integration, and co-develop specifications for manufacturing the batteries.
Factorial has developed breakthrough solid-state technology that addresses critical issues holding back widescale consumer adoption of electric vehicles, such as driving range and safety. The announcement is Factorial’s first significant strategic investment from a major automotive Original Equipment Manufacturer (OEM) group and deepens its existing research relationship with Hyundai.
Factorial’s advances are based on FEST (Factorial Electrolyte System Technology), which leverages a proprietary solid electrolyte material that enables safe and reliable cell performance with high-voltage and high-capacity electrodes and has been scaled in 40Ah cells that perform at room temperature. In addition, 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.
Siyu Huang, CEO, Factorial Energy, said, “Our partnership with Hyundai is yet another validation of our solid-state battery technology, and we look forward to demonstrating its market readiness in Hyundai vehicles. We can help unlock mass adoption of electric vehicles - and the resulting environmental benefits - through our safe and long-range batteries.”
NB: Photo is representational.