Battery maker Factorial Energy enters investment deal with Daimler, Stellantis

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(Reuters) - U.S. based Factorial Energy said on Tuesday it had entered into agreements with Daimler AG owned Mercedes-Benz and Stellantis NV, in a bid to commercialize its battery technology.
Under the partnerships, both Daimler and Stellantis will make a strategic investment in the solid-state battery maker, Factorial Energy said in a statement, without providing any financial details.
As transition towards greener mobility gets more traction, demand for electronic vehicles is expected to surge, more so after Daimler and five other car manufacturers committed to a pledge earlier this month to phase out fossil-fuel vehicles by 2040.
These partnerships follow Stellantis's deal with lithium developer Vulcan Energy Resources and Daimler's investment in electric vehicle charging venture Ionity's latest funding round.
"With our new partners we can develop ...


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