Factorial Inc. and LG Chem plan to jointly accelerate the development of materials for solid-state batteries, according to a letter of intent. LG Chemʼs expertise in battery materials will be combined with Factorialʼs innovations in next-generation battery materials and processes to secure a competitive advantage.
Licensing and supply agreements on the horizon
In addition, the future licensing of technologies and the supply of materials is planned in order to establish a strategic collaboration for market leadership. In addition to its core business of cathode materials, LG Chem produces numerous battery materials such as separators, conductive agents, and binders. The company also conducts research and development as well as external collaborations to strengthen its capabilities for new materials in response to changes in next-generation battery technology.
