In September, a modified Mercedes-Benz EQS equipped with Factorial Energy's solid-state batteries travelled more than 1,200 km without recharging, while still retaining energy in reserve. That led Mercedes to marvel that the technology represents a "true paradigm shift" for the electric vehicle industry.
An IPO to accelerate market entry
To finance its next phase of development, the U.S.-based start-up plans to go public via a merger with Cartesian Growth Corporation III, a special-purpose acquisition company (SPAC). The transaction, expected by mid-2026, would value Factorial at approximately $1.1 billion USD and inject $100 million USD to support its growth. The company will then be listed on the Nasdaq under the symbol FAC.
Already backed by industry giants
Factorial is already collaborating with several major manufacturers, including Mercedes-Benz, Stellantis and Hyundai. Mercedes has validated its 106 Ah cells during open-road testing. For its part, Stellantis has confirmed the performance of 77 Ah cells in lab testing, claiming it demonstrates high energy density, fast charging and increased stability even under extreme temperatures.
Factorial CEO Dr Siyu Huang believes this is a pivotal moment. Beyond the automotive sector, Factorial is also targeting the defence, aerospace and robotics markets.
Vehicles equipped as early as 2027
According to Dr Huang, the first commercial applications could arrive as early as 2027, initially in high-end or sports models—such as the future electric Dodge Charger Daytona—before a broader roll-out. Despite the slowdown in electrification investments among some American manufacturers, Factorial remains confident.
A breakthrough that could transform the electric car
With over 1,200 km of real-world range, superior performance and a near-term market launch, Factorial’s solid-state batteries could well represent the next great revolution for the electric vehicle.