Automotive company Stellantis is investing in two companies: Factorial Energy and Stimcar. Factorial Energy will use the investment to accelerate the development of its solid-state battery technology, while Stimcar focuses on reconditioning used vehicles.
Factorial Energy is a company committed to developing solid-state batteries. These are aimed at various applications, including electric vehicles, sustainable homes and critical applications. The company says it has developed the first commercial-scale solid-state battery with balanced performance. The technology has been developed by the company in collaboration with several major car and battery manufacturers.
Various applications
The company envisages various applications for its technology. These include electric vehicles, of course. However, think also about the storage of renewable energy at wind and solar farms.
Electric driving is a key focus for Stellantis, formed from a merger of FCA and PSA. The company now offers 33 models with an electric drive. In the next eight months, eight more electric vehicles will be added to the range. Stellantis includes 14 brands: Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot, Ram and Vauxhall.
Stellantis aims to operate with solid-state batteries by 2026
That Stellantis is betting on solid-state batteries is no surprise. The company announced back in July during its EV Day that it wants to have competitive solid-state battery technology by 2026.
"After we successfully developed the first 40 Amp-hour solid-state battery in 2021, it has been extensively tested," said Siyu Huang, CEO of Factorial Energy. "We look forward to getting batteries into the hands of our customers for extensive testing and next-level validation."
The technology offers several advantages. For instance, solid-state technology increases the driving range of electric vehicles by up to 50%. Also, the batteries are 'drop-in compatible' with manufacturing infrastructure for existing lithium-ion batteries. Car manufacturers can therefore easily switch to solid-state batteries. Factorial Energy previously entered into Joint Development Agreements with Stellantis, Mercedes-Benz and Hyundai for the commercialisation of its batteries.
Stimcar
Stellantis is also investing in Stimcar, in which it is taking a majority stake. It will do so through Stellantis &You, Sales and Services, which focuses specifically on the sale of used vehicles. French company Stimcar specialises in reconditioning used vehicles, making vehicles 'showroom-ready' again. Reconditioning used vehicles includes complete cleaning of the vehicle, both inside and outside.
Although Stellantis is taking a majority stake in Stimcar, Stimcar will continue to operate completely independently in terms of management and development. Founders Jean-François and Yann Brazeau will remain active with the company, as will the current Stimcar team.
Also centres in other European countries
Currently, Stimcar focuses specifically on the French market from its Bordeaux, Nantes and Toulouse offices. As part of the deal with Stellantis, the company plans to open reconditioning centres in other locations in both France and the rest of Europe. Initially, additional centres will be opened in France, followed by locations in other European countries from 2023.
In doing so, Stellantis will become a business partner of Stimcar. The company will use Stimcar to recondition used vehicles it sells. This is a non-exclusive deal; Stimcar will also continue to serve other customers and expand its customer portfolio.
Author: Wouter Hoeffnagel
