Stellantis and Mercedes Benz-backed Factorial Energy will establish an advanced manufacturing facility in Methuen, Massachusetts to produce its new solid-state battery cell technology for EVs.
The site was secured with support from the Massachusetts Office of Business Development and the City of Methuen’s Economic and Community Development Department.
Factorial Energy will invest $45 million to complete the buildout of the existing 67,000 square-foot building at the site that will then be home to Factorial’s pilot production facility. The manufacturing facility will make automotive-sized solid-state batteries at pre-production speed and volume. Operations are expected to begin early in 2023.
Currently, Factorial Energy is working with automakers such as Hyundai, Mercedes-Benz and Stellantis to develop solid-state EV battery cells for passenger and commercial EVs. It hopes to introduce the first competitive solid-state EV battery system by 2026.
“The collaboration between Factorial, the City of Methuen and the Commonwealth of Massachusetts has been extremely helpful and productive,” said Siyu Huang, CEO of Factorial. “Our relationship is a true partnership between our company and our community. We plan to continue building solid-state EV battery research and development facilities in New England and establish the region as a hub for electric mobility technology.”
Earlier this year, the company announced a $200 million round of funding headed by investors Mercedes-Benz and Stellantis. In 2021, Factorial Energy announced partnerships with Kia and Hyundai.