US-based Factorial Energy Inc., a tech firm specialising in next-generation solid-state batteries (SSB), has signed a Memorandum of Understanding (MoU) with SK On, a Korea-based battery manufacturer, aimed at exploiting future manufacturing synergies.
The partnership brings together Factorial’s advanced cell technology and scale-up expertise with SK On’s extensive global manufacturing network and pilot capabilities.
A key objective of this collaboration is to assess whether and how SK On’s manufacturing footprint and existing lithium-ion battery manufacturing infrastructure could support future development of SSB technologies.
SK On currently supplies electric vehicle batteries to automotive OEMs including Hyundai Motor Group, Ford, Volkswagen, and Ferrari. The company says it has more than 200 GWh of annual production capacity worldwide, including approximately 100 GWh in the United States. Its US manufacturing footprint includes 22 GWh of capacity in Commerce, Georgia, as well as operations in Tennessee.
Under the MoU, Factorial and SK On will jointly evaluate the technical feasibility and manufacturing considerations for Factorial’s FEST SSB technologies.
Factorial said the collaboration highlights its ‘capital-light approach to industrialisation’, which is centred on developing batteries that can leverage established manufacturing infrastructure to accelerate the path to industrialization.
“A battery breakthrough only matters if it can be manufactured at scale,” said Siyu Huang, CEO of Factorial. “That is what makes this partnership with SK On so significant. Their manufacturing footprint spans some of the world’s most advanced battery facilities, and their expertise will be critical in shaping how solid-state battery technology integrates into global production ecosystems.”
“This collaboration provides an opportunity to evaluate the technical feasibility and manufacturing readiness of solid-state battery technologies, drawing on SK On’s battery technology and manufacturing expertise,” said Ki-soo Park, Head of the Institute of Future Technology at SK On. “SK On will continue to explore collaboration opportunities in next-generation battery technologies.”
Through this collaboration, Factorial and SK On will explore opportunities to support the future development of solid-state battery technologies for mobility and high-performance markets, advancing the next generation of energy storage. This marks Factorial’s manufacturing-focused partnership with a global battery producer, reflecting the company’s strategy of scaling through established manufacturing ecosystems.
The MoU is non-binding, except for certain customary binding provisions. The terms of the collaboration are expected to be set forth in definitive binding agreements.
Factorial Energy describes itself as a leading American solid-state battery innovator backed by IQT – the not-for-profit strategic investor for the US national security community and America’s allies – and Mercedes-Benz, Stellantis, Hyundai, and Kia.
