DLA Piper advises Mercedes-Benz in equity investment in Factorial Energy
DLA Piper represented Mercedes-Benz in its recent equity investment in Factorial Energy. The companies will jointly develop next-generation battery technology with the aim of testing prototype cells as early as next year. The goal of the partnership is to start with the cell and extend development to include entire modules and integration into the vehicle battery.
Mercedes-Benz aims to integrate the technology into a limited number of vehicles as part of a small series within the next five years. With its investment, Mercedes-Benz obtains the right to delegate a representative to Factorial’s Board of Directors.
“It was a pleasure to bring together our technology and automotive sector experience, as well as our deep transactional capabilities and understanding of the market, to advise Mercedes-Benz on this investment, which will allow our client to play a key role in the battery technology field and the increasing prevalence of electric vehicles,” said Tim Arndt, the DLA Piper partner who led the firm’s deal team.
In addition to Arndt (New York), the DLA Piper team representing Mercedes-Benz included associates Edmund Mokhtarian and Tiffany Sakamoto (both of Silicon Valley); senior counsel William Hoffman (Silicon Valley); of counsel Nicholas Klein (Washington, DC); and partners James Kelly, Ilya Bubel (both of New York) and Benjamin Parameswaran (Hamburg).
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