Battery Firm ProLogium Secures Millions of Euros From Mercedes-Benz

German auto conglomerate Daimler AG released an update on its official website on Thursday, stating that Mercedes-Benz has signed a technical cooperation agreement with ProLogium Technology Co., Ltd., a solid-state battery company in Taiwan, to jointly develop next-generation batteries. The first model with a brand-new solid-solid-state battery to be produced by the deal, which will be supported by millions of euros in investment, is expected to be launched in the next few years and will be applied in a series of passenger cars in the next five years.

According to the agreement, Mercedes-Benz will have a seat on the board of directors for ProLogium. Apart from solid-state battery development, Mercedes-Benz will also help ProLogium set up a manufacturing plant in Europe. The new factory is expected to be completed by the end of 2022 at the earliest.

This is another important investment by Daimler AG in the field of solid-state batteries after Daimler and Stellantis announced a strategic investment in Factorial Energy, another solid-state battery firm, in December 2021.

Both ProLogium and Factorial Energy have some connections with Daimler AG. Dieter Zetsche, former CEO of Daimler, is one of the members of Factorial’s advisory committee. Moreover, Mercedes-Benz also established cooperation with ProLogium for the testing of EV batteries in 2016.

SEE ALSO: ProLogium Technology Raises $326 Million to Help Expand Global NEV Market

According to public information, ProLogium was established in 2006, and is committed to the development of next-generation batteries, including silicon anode solid-state batteries, metal lithium anode solid-state batteries and BiPolar technology solid-state batteries.

In July 2020, ProLogium located its headquarters for the Chinese mainland and a global industrial plant in Lin’an District, Hangzhou. It invested a total of 38 billion yuan ($5.97 billion) in the undertaking, which included 2GWh and 5GWh solid-state lithium ceramic battery core industrialization projects. The firm is considering establishing a joint venture with car companies to build production lines.

ProLogium has reached cooperation with new energy carmakers such as NIO, AIWAYS and ENOVATE. In addition, FAW Industrial Fund also invested in the round D of financing for ProLogium in 2020. After this fundraising, ProLogium strengthened bilateral strategic cooperation with FAW