Pro Logium Signs Investment Contract with Mercedes-Benz

Pro Logium Signs Investment Contract with Mercedes-Benz

ProLogium Technology, a Taiwanese battery maker, said Thursday that it signed a partnership agreement with Mercedes-Benz to build test vehicles; Which will be equipped with jointly developed solid-state batteries in the coming years. In fact, a statement from ProLogium said it would receive a “high double-digit” million-euro investment from a German luxury carmaker; Who will also take a seat on the ProLogium board. Also, the battery maker said it would use the investment to develop battery technology and build production capacity in Europe.

The partners also agreed on milestones that include using solid-state battery technology in passenger cars; In the second half of the decade. ProLogium did not provide further details. Solid-state technology helps lessen battery weight and size. That’s why Mercedes-Benz opted for the ProLogium.

Solid-state batteries use thin rows of strong electrolytes; They bring lithium ions between the electrodes. They are a potential substitute for the game for electric cars. Also, it can offer more excellent safety, save more energy, charge faster; Than lithium-ion batteries that rely on liquid electrolytes.

ProLogium Partnership with Mercedes-Benz

ProLogium has become the latest manufacturer of batteries; Which merged with Mercedes-Benz. The German automaker is working to make its cars fully electric by 2030; Accordingly, catch up with the leader of electric vehicles, Tesla Inc. Other Mercedes-Benz battery partners are Automotive Cells, Factorial Energy and Farasis Energy.

The latest connection comes as EV sector companies compete to create the next generation of batteries to reduce costs and range anxiety. Last January, Chinese NIO announced that it would ship its ET7 sedan in the fourth quarter of 2022; Which has a 150 kWh battery and solid-state cells.

According to ProLogium, the company aims to accelerate the development of the new plant by the end of 2022; To move to mass production of solid-state batteries. In October, the battery maker raised $326 million from investors in its final financing round. These include SoftBank China Venture Capital and Primavera Capital Group.