Factorial and SK On sign MoU for solid-state battery manufacturing

Factorial Energy shares jumped 14.4% in Thursday's trading after the company said it will partner with Japan's Mitsui Kinzoku to accelerate the global scale-up of its Solstice all-solid-state battery platform. Mitsui Kinzoku produces sulfide-based solid electrolytes for all-solid-state batteries and is one of few companies worldwide with foundational technology in this space, Factorial said. The Japanese company also produces ultra-thin copper foil and holds an estimated 90% share of the semiconductor market for that foil. Mitsui Kinzoku Senior Executive Officer Kiyotaka Yasuda said the two companies aim to accelerate the realization of next-generation batteries by combining Mitsui Kinzoku's long-established expertise in materials and manufacturing technologies with Factorial's advanced technological capabilities. Factorial Energy shares began trading on Nasdaq in June following the completion of its business combination with Cartesian Growth Corporation III.

General Motors is developing a domestic battery supply chain it expects to complete within two to three years, even as it currently relies on some Chinese-sourced materials for existing battery production. Kurt Kelty, GM's vice president of battery and sustainability, told CNBC the company's near-term goal is full domestic sourcing, centered on sodium-ion battery cells GM is developing with Denver-based startup Peak Energy for stationary energy storage in homes, businesses, and data centers. GM expects commercial production of those cells around 2029, and a GM spokesperson confirmed the same domestic sourcing priority would apply to battery cells for future electric vehicles. Sodium-ion cells are built around sodium from soda ash, which the U.S. holds in abundance, sidestepping the lithium and ferrous sulfate supply chains China currently controls, and Kelty said they handle a broader span of temperatures, removing the need for active thermal management. GM has committed $900 million to new battery research facilities at its suburban Detroit campus, including a cell prototyping building exceeding 500,000 square feet scheduled to open before the end of the year. The comments came as Ford faced criticism from the Trump administration over its battery sourcing, with Transportation Secretary Sean Duffy saying last week he had "profound concern" over Ford's licensing of technology from Chinese battery manufacturer CATL for its Marshall, Michigan plant, while Ford CEO Jim Farley called the charges "basic misunderstandings, mistruths" and the White House posted that Ford is "a GREAT American company."