EV battery manufacturer expanding to secure key markets in supply chain

WOBURN, Mass. & PANGYO, South Korea--(BUSINESS WIRE)--Factorial Energy (Factorial), an industry leader in the development of solid-state battery technology for electric vehicle (EV) applications, today announced the opening of a new office in Pangyo, South Korea. The new site in South Korea is expected to strengthen Factorial�s relationships with strategic partners in the region.

The opening is part of Factorial�s plan to strengthen its support for its existing and anticipated future customers as well as strategic suppliers. �The Pangyo Techno Valley is abundant with diverse talent offering Factorial the opportunity to expand our engineering and customer support capabilities,� said Siyu Huang, CEO of Factorial. �We believe our expansion into South Korea will help us to identify strategic partners along the supply chain and attract additional talent from the region.�

Factorial is developing the next generation of battery technology for electric mobility. The company has existing relationships with automakers Mercedes-Benz, and Stellantis, and Hyundai Motor Company to develop safer and higher-performance solid-state EV battery cells for future passenger and commercial vehicles.

About Factorial Energy

Based in Woburn, Mass., Factorial Energy is developing breakthrough solid-state batteries that offer longer range per charge and increased safety and aim to be cost competitive with conventional lithium-ion batteries. The company�s proprietary FEST� (Factorial Electrolyte System Technology) leverages a solid electrolyte material, which has the potential to enable safe and reliable cell performance with high-capacity cathode and anode materials. FEST� has been successfully scaled in 40Ah cells, works at room temperature, and is highly compatible with existing lithium-ion battery manufacturing equipment. The company has entered into joint development agreements with Mercedes-Benz, Stellantis, and Hyundai Motor Company. More information can be found at www.factorialenergy.com.

Contacts

Media:
Janine Ward

Antenna for Factorial Energy

[email protected]