Factorial Energy announces European subsidiary in Germany to expand footprint
A leading developer of solid-state EV battery technology, Factorial Energy has announced the establishment of a European subsidiary company in Germany. The company claims that its presence in Europe will enhance its engagement with its automotive partners and customers worldwide.
Factorial already has joint development agreements with Mercedes-Benz, Stellantis, and Hyundai with the goal to accelerate production of its solid-state battery technology, which the company believes is safer and more energy dense than current lithium-ion battery technology.
"This is an exciting step in Factorial's strategic global expansion," said Siyu Huang, CEO and co-founder of Factorial. "We will be on the ground floor as the European Commission considers new regulations around battery sustainability, including the Battery Passport and Green Deal initiatives, to accelerate EV adoption".
He further added, "The local presence will keep us in close proximity to our automotive partners and put us in a position to maneuver legislative policies in Europe. We look forward to our continued development as we work towards becoming a leader in the solid-state battery space."
According to Factorial, the new location will enable the company to continue to build strategic relationships and work closely with key European suppliers and manufacturing partners. Additionally, this expansion provides access to the region's advanced automotive expertise and prestigious universities and institutions for future team build-out to support customer validation and testing, it adds.