Factorial appoints former Daimler CEO Zetsche to board

Factorial Inc., a solid-state battery technology company, announced that Dr. Dieter Zetsche will join its board of directors following the completion of its business combination with Cartesian Growth Corporation III (NASDAQ: CGCT).

Zetsche has served as an investor and advisor to Factorial since 2021. He previously led Daimler AG as Chairman of the Board of Management from 2006 to 2019, overseeing Mercedes-Benz during a period of global expansion and strategic transformation. Before his tenure at Daimler, he served as President and CEO of Chrysler Group.

"Working alongside Dr. Zetsche as an early investor and advisor has been one of the most valuable experiences in Factorial's journey," said Siyu Huang, CEO of Factorial, according to the company's statement.

Zetsche holds a doctorate in electrical engineering from the University of Karlsruhe. During his time at Daimler, he initiated investments in electrification, autonomous driving, and digital mobility while expanding the company's global production and market presence.

Factorial operates from the Boston area and develops solid-state battery technology through its FEST and Solstice platforms. The company has partnerships with automotive manufacturers including Mercedes-Benz, Stellantis, Hyundai Motor Company, and Kia Corporation.

The company reported that Mercedes-Benz achieved over 1,200 kilometers of range in road testing using a modified test vehicle with Factorial's technology. Stellantis laboratory testing verified 77 Ah cells demonstrating energy density and fast-charging capabilities.

The information is based on a company press release statement.

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