Factorial Energy to Open New Solid-State EV Battery Development and Manufacturing Facility in Methuen, Mass.
Factorial Energy (Factorial), a frontrunner in the creation of solid-state battery technology specifically for electric vehicle (EV) applications, has proudly declared its plans to inaugurate a new cutting-edge manufacturing facility. This establishment will be located in the suburb of Methuen, Boston, Mass. The facility is envisioned to be the birthplace of Factorial’s groundbreaking solid-state battery cell technology, designed specifically for EVs. An inaugural ceremony is scheduled to take place at the site in Methuen, marking its official commencement at 3:00 pm EDT today.
“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.”
“Factorial Energy is an excellent example of an innovative company choosing to build its business and provide high-skilled jobs here in Methuen,” said Mayor Neil Perry, City of Methuen. “We are excited to help Factorial start its new operations in Methuen, and we’re honored to support the growth of this future-focused company. This is an excellent example of local and state government working hand in hand with private enterprise to craft a solution beneficial to all.”
“We are thrilled to see Factorial Energy expanding operations in its home state,” said Housing and Economic Development Secretary Mike Kennealy. “Massachusetts remains a leader in innovation, and as the electric mobility industry grows, this new advanced manufacturing facility in the Gateway City of Methuen will play an important role delivering the solid-state batteries that will power our transition to clean energy while creating jobs here in the Commonwealth.”
The new production site, situated at 501 Griffin Brook Drive in Methuen, was recently acquired by Factorial Energy with the assistance of the Massachusetts Office of Business Development and the City of Methuen’s Economic and Community Development Department. The existing structure, a 67,000 square-foot building, is set for an extensive overhaul to house Factorial’s pilot production facility.
This facility is designed to manufacture automotive-sized solid-state batteries at pre-production speed and volume. Factorial plans to invest $45 million into the facility, which is projected to commence operations in early 2023, providing 166 new jobs to the Methuen community. Headquartered in Woburn, Mass., Factorial is driving innovation in electric mobility technology. Currently, the company is collaborating with auto industry giants like Hyundai Motor Company, Mercedes-Benz, and Stellantis to develop safer and higher-performing solid-state EV battery cells for future passenger and commercial vehicles.
