Free Trial

Mercedes, Stellantis to work with US firm on new batteries

BERLIN (AP) — Automakers Mercedes-Benz and Stellantis announced agreements with U.S. company Factorial Energy on Tuesday to help develop solid-state battery technology that they hope could make electric cars more attractive to a mass market.

Mercedes-Benz, part of Daimler AG, said it is joining forces with Factorial, based in Woburn, Massachusetts, to jointly develop batteries with the aim of testing prototype cells as early as next year. It said it is “investing a high double-digit million dollar amount in Factorial” that will give it the right to a representative on the battery company's board of directors.

Stellantis, which combined PSA Peugeot and Fiat Chrysler, said it signed a joint development agreement with Factorial and is making a “strategic investment” in the company. It didn't detail the size of the investment.

Solid-state batteries have solid conducting material instead of the liquid electrolyte found in most current lithium-ion batteries. They can store more energy, expanding range or allowing for smaller batteries.

Where Should You Invest $1,000 Right Now?

Before you make your next trade, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.

Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.

They believe these five stocks are the five best companies for investors to buy now...

See The Five Stocks Here

20 High-Yield Dividend Stocks that Could Ruin Your Retirement Cover

Almost everyone loves strong dividend-paying stocks, but high yields can signal danger. Discover 20 high-yield dividend stocks paying an unsustainably large percentage of their earnings. Enter your email to get this report and avoid a high-yield dividend trap.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Cheap Growth Stocks Set to Explode This Summer
The Next NVIDIA? Quantum Computing Stocks Set for Explosive Growth
5 Stocks to BUY NOW in July 2025

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines