Mercedes Benz and Factorial are working on solid state battery which will drastically increase the EV range, and be production ready by the decade end, the firms said, as reported by Reuters.
The new battery, named Solstice, could extend EV range by 80% above today's average, with energy density of 450 Watt-hours per kilogram, the firms noted in a statement.
Solid state batteries have been touted as game changing technology for electric vehicles, as they can reduce the risk of fire, enabling lighter, lower cost cars which can travel further on a single charge, Reuters noted.
Auto groups are looking at ways to curtail costs and bolster EV range, as sales have stagnated, especially in Europe.
Factorial has already developed a quasi-solid-state battery that automakers including Mercedes are testing and should be in EVs on the road in 2026, the newswire further noted.
Factorial counts Mercedes as an investor, when it raised USD 200 million in 2022, along with Hyundai and Stellantis, the newswire noted.
Factorial developed quasi-solid-state batteries first because they can use similar production lines to conventional lithium-ion batteries, meaning they can scale up faster, CEO Siyu Huang told Reuters.
"We're not just focused on the cost of (battery) cell, but the cost of the overall vehicle," she noted.