Shares in Stellantis jumped more than 2% in Milan trading Tuesday, buoyed by news of successful validation of its semi-solid-state battery technology developed in partnership with Factorial Energy. The automotive group’s stock rose to €6.604 as of 11:35 AM local time, while the FTSE MIB index experienced a slight decline of 0.37% to 46,528 points.
The validation of Factorial’s automotive-sized FEST solid-state battery cells marks a key milestone in the development of next-generation electric vehicle batteries, according to a statement released by Stellantis. The company initially invested $75 million in Factorial Energy in 2021, and this latest development strengthens their strategic collaboration. Stellantis plans to integrate these batteries into a demonstration fleet of Dodge Charger Daytona vehicles in 2026, according to reports.
The validated 77 amp-hour cells boast an energy density of 375 watt-hours per kilogram, exceeding the current industry average of 200-300 Wh/kg. Testing indicates the cells can be charged from 15% to 90% in approximately 18 minutes at room temperature and support discharge rates of up to 4C. These advancements promise improvements in range, charging speeds, and weight reduction compared to traditional lithium-ion batteries.
The positive performance of Stellantis contrasted with declines in the banking sector. IntesaSanpaolo fell 2.01% to €5.745, while BPER Banca dropped 2.42% to €12.105. Enel continued a positive trend, rising 1.54% to €9.849 following revisions to its target price by several financial firms after the company presented updated business strategies.
Elsewhere, Saipem gained 1.65% to €3.452 after securing a new offshore contract in Saudi Arabia valued at approximately $500 million. AVIO, a mid-cap company, saw a significant increase of 3.87% to €36.2 after announcing its U.S. Subsidiary will locate a new solid propellant motor production facility in Hurt, Virginia.
European stock markets and the Italian bourse registered fractional changes overall. The euro has fallen below $1.18, while gold prices fluctuate around $2,100 and silver has risen to $88.5. The spread between Italian and German 10-year government bonds has widened to over 60 basis points, with the Italian bond yield remaining below 3.35%.
