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
factorial@antennagroup.com
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