US-based Factorial Energy and South Korea’s POSCO FUTURE M are teaming up on all-solid-state batteries, the “holy grail” of battery tech.
Factorial and POSCO take on all-solid-state EV batteries
All-solid-state batteries promise significant improvements in driving range, charging times, and safety. Although next-gen battery tech shows promise in the lab, proving it in the real world hasn’t been easy.
For one, new equipment is needed to manufacture them. All-solid-state batteries also use a solid electrolyte, unlike the liquid electrolyte used in current lithium-ion batteries.
One of the biggest challenges in bringing the new battery tech to market has been finding a solid material that doesn’t crack yet still conducts electricity.
Factorial Energy and POSCO look to change that. The two companies announced a new partnership at the Future Battery Forum in Berlin this week. Under the agreement, Factorial and POSCO will combine resources to develop materials for all-solid-state batteries.
POSCO already supplies cathode and anode materials to global battery leaders, including LG Energy Solution, SK On, Samsung SDI, and Ultium Cells. Now, it’s looking to strengthen its all-solid-state materials business.
The company is already developing new cathode and silicon anode materials for all-solid-state batteries, but POSCO said it’s also continuing R&D on lithium-metal anode materials and sulfide-based solid electrolytes.
“Solid-state batteries are entering a new era of commercial readiness,” according to Factorial’s CEO, Siyu Huang.
Factorial said that by teaming up with POSCO, it will not only accelerate material development, but also “drive meaningful cost reductions at scale.”
In 2022, Mercedes-Benz, Hyundai, and Stellantis were among the major automakers that invested in Factorial’s $200 million fundraising. The company delivered the first solid-state battery cells based on its FEST (Factorial Electrolyte System Technology) platform last summer.
Factorial and Mercedes introduced the co-developed Solstice all-solid-state battery in September 2024, based on the FEST platform.
The company aims to deliver a driving range of over 600 miles with the new battery tech. Mercedes announced in September that it had driven a modified EQS, equipped with a solid-state battery from Stuttgart, Germany, to Malmö, Sweden. After covering 750 miles (1,205 km), the EV still had 85 miles of range remaining.
Mercedes’ tech boss, Markus Schäfer, called solid-state batteries “a true gamechanger for electric mobility,” adding the new tech “delivers not only in the lab but also on the road.”
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