June 15th, 2026 | EV registrations stabilizing; Factorial Energy CEO on solid-state batteries
About this episode
EV registrations are stabilizing after the loss of federal tax credits, with S&P Global Mobility pointing to the smallest April decline so far this year. Tesla remains a standout, with Model Y registrations up 61% and Tesla’s overall market share reaching 51%, while the company faces serious scrutiny in Europe over its push to expand full self-driving. The show then pivots to Factorial Energy, where CEO C.U. Huang argues solid-state batteries are closer to mass market than most people think.
U.S. electric vehicle registrations are showing signs of stabilization, but the recovery is uneven. The Dauch strike is officially over. Plus, Factorial Energy CEO Siyu Huang explains how geopolitical tensions are complicating the path to market.
solid-state battery technology
"Plus, factorial energy CEO, C.U. Huang, says the company's solid-state battery technology [25.9s] is closer to mass market than most people think."
A solid-state battery is an EV battery that uses a solid material inside instead of a liquid. The goal is usually more energy stored in the same space, which can mean longer range and sometimes safer operation.
Solid-state batteries replace the liquid or gel electrolyte found in most EV batteries with a solid material. That can enable higher energy density and potentially improve safety and charging performance, depending on the specific design.
energy density
"With the reality that the solid-state has naturally a higher energy density, we can [34.3s] either have the same volume with longer range or have the same energy with a smaller weight"
Energy density is basically how much “battery power” you can fit into a certain size or weight. If it’s higher, the car can often go farther without making the battery bigger and heavier.
Energy density is how much electrical energy a battery can store for a given weight or volume. Higher energy density lets automakers either keep the same pack size and gain range, or reduce pack size/weight for the same range.
federal tax credits
"US EV registrations are stabilizing after last fall's loss of federal tax credits, but [54.4s] the recovery is still a work in progress."
Federal tax credits are government incentives that reduce the effective cost of buying an EV. When those credits change or expire, EV demand can drop because buyers lose a major price lever.
Tesla Model Y
"Tesla led the way, its Model Y was up 61%, and its overall market share climbed to 51%. [80.7s] But analysts say Tesla faces a challenge ahead without new models on the way."
The Tesla Model Y is one of Tesla’s most popular EVs. Because it sells in large numbers, changes in its sales can strongly affect Tesla’s overall standing in the EV market.
The Tesla Model Y is Tesla’s high-volume compact crossover, and it’s a key driver of the brand’s EV sales numbers. When the Model Y’s registrations rise, it can significantly influence Tesla’s overall market share and momentum.
market share
"Tesla led the way, its Model Y was up 61%, and its overall market share climbed to 51%. [80.7s] But analysts say Tesla faces a challenge ahead without new models on the way."
Market share means what fraction of total EV sales a company gets. If market share rises, it usually means the brand is selling more EVs compared to everyone else.
Market share is the percentage of total sales in a category that a company or brand captures. In EV reporting, it’s often used to show how a brand’s registrations compare to competitors over the same period.
UAW
"The UAW's two-week strike at Doubt Corporation's Axle Plan in Three Rivers, Michigan is officially [95.8s] over. Local 2093 members voted 704-173 to ratify a new four-year deal"
UAW is the United Auto Workers, a union for many auto factory workers in the U.S. When they strike or vote on a new contract, it can change how factories operate and what workers get paid.
UAW stands for the United Auto Workers, a major U.S. labor union representing workers in auto manufacturing and related industries. Strikes and contract votes by the UAW can directly affect production schedules and labor costs across the supply chain.
Three Rivers, Michigan
"The UAW's two-week strike at Doubt Corporation's Axle Plan in Three Rivers, Michigan is officially [95.8s] over."
Three Rivers, Michigan is a town in the U.S. where the labor action happened. The episode mentions it because the strike involved an automotive-related workplace there.
Three Rivers, Michigan is a U.S. manufacturing location referenced here in connection with a labor dispute. It’s mentioned because the strike affected a specific workplace tied to the automotive supply chain.
ratify a new four-year deal
"Local 2093 members voted 704-173 to ratify a new four-year deal that boosts wages 36%. [107.1s] Plus, workers get new paid holidays"
“Ratify” here means the union members voted to approve the new contract. It’s the official step that makes the new terms take effect.
In union negotiations, “ratifying” a deal means the union membership formally approves the contract terms through a vote. The episode uses this to describe a new multi-year labor agreement affecting wages and benefits.
EV registrations
"So it gives us a look at just the share of EVs that are registered each month."
EV registrations are how many electric cars were newly registered for the road each month. It’s often used like a stand-in for sales because it shows how many new EVs are actually being bought.
EV registrations are counts of electric vehicles newly registered in a given period, typically used as a proxy for new sales. Because registrations reflect vehicles entering the road system, they can be a useful way to track market momentum even when manufacturers don’t release monthly sales data.
year over year
"And so in January, they were down 41% year over year."
Year over year means comparing this month to the same month last year. It helps show whether things are getting better or worse compared to last year.
Year over year (YoY) compares a metric in one month to the same month in the previous year. Here, the host uses YoY declines to show how EV registration growth is changing over time.
Tesla Model S
"But even the higher end Model S and Model X that Tesla has said it's going to discontinue had higher registrations in April."
The Tesla Model S is an all-electric car from Tesla. It’s one of their main models, and the discussion here uses it to talk about how Tesla’s sales and registrations are changing.
The Tesla Model S is a flagship electric sedan from Tesla, known for its long-range capability and performance-oriented variants. In this segment, it’s mentioned as part of Tesla’s lineup even as the brand discusses discontinuing certain versions, which ties into EV demand trends.
Tesla Model X
"But even the higher end Model S and Model X that Tesla has said it's going to discontinue had higher registrations in April."
The Tesla Model X is an all-electric SUV from Tesla. The hosts mention it to illustrate how some Tesla models still drew buyers even while Tesla planned to stop certain versions.
The Tesla Model X is Tesla’s all-electric SUV, notable for its family-friendly packaging and distinctive falcon-wing rear doors. Here it’s referenced alongside the Model S to show that even discontinued Tesla variants still had relatively strong April registrations.
Ford Mach-E
"But registrations of the Mach-E crossover were up 17%. So the Ford story I think is sort of around the Mach-E now really being its main consumer EV model"
The Ford Mach-E is Ford’s electric crossover. In this discussion, it’s the main reason Ford’s EV registrations weren’t as bad as the overall numbers, so it’s treated as Ford’s current EV sales driver.
The Ford Mach-E is Ford’s all-electric crossover, and it’s positioned here as the core of Ford’s EV sales momentum. The segment highlights that Mach-E registrations rose even while overall Ford EV registrations fell, making it a key indicator of where Ford’s EV demand is concentrating.
Ford F-150 Lightning
"after Ford said it was going to end production of the F-150 Lightning pickup. And so the Mach-E is sort of doing a lot of the work in Ford's EV portfolio right now"
The Ford F-150 Lightning is an electric pickup truck based on the F-150. The segment notes Ford ending production, which is important because it changes what EV model does most of the work for Ford.
The Ford F-150 Lightning is an all-electric version of the popular F-150 pickup, aimed at bringing EV capability to the truck market. The hosts mention Ford ending production of it, which matters because it shifts Ford’s EV strategy toward the Mach-E and future models.
incentives
"Toyota has put a lot of incentives on those new models when they launched to really help build momentum around their EV lineup."
In this context, incentives are manufacturer or dealer offers (like price reductions, rebates, or financing deals) used to make EVs cheaper or easier to buy. The segment specifically ties Toyota’s incentives to building momentum for its EV lineup even when federal tax credits aren’t available.
solid-state batteries
"Solid-state batteries have been the great promise of the EV industry for years. Lighter, safer, and potentially cheaper than the lithium-ion packs powering today's vehicles."
Solid-state batteries are a new type of EV battery. Instead of using a liquid inside the battery, they use a solid material, which could make the battery safer and allow more energy in a smaller/lighter package.
Solid-state batteries are EV batteries that replace the liquid electrolyte found in today’s lithium-ion packs with a solid material. That design can improve safety and energy density, which may let EVs be lighter and potentially cheaper if manufacturing scales.
lithium-ion packs
"Lighter, safer, and potentially cheaper than the lithium-ion packs powering today's vehicles."
Lithium-ion packs are the batteries in most EVs today. They store energy using a chemical process inside the battery, and solid-state batteries are trying to improve on that approach.
Lithium-ion packs are the battery systems used in most current EVs. They store energy using lithium ions moving between electrodes through a liquid electrolyte, which is why solid-state designs are often compared against them.
Factorial Energy
"C.U. Huang is the founder and CEO of Factorial Energy, which recently went public on Nasdaq under the ticker FAC, and is developing solid-state battery technology..."
Factorial Energy is a company working on EV batteries. They’re focused on solid-state battery technology and trying to move it from early development toward real production.
Factorial Energy is a battery company developing solid-state battery technology for EV applications. In this segment, it’s discussed in the context of going public and scaling manufacturing.
Nasdaq
"which recently went public on Nasdaq under the ticker FAC, and is developing solid-state battery technology..."
Nasdaq is a stock market where companies’ shares trade publicly. Going public there means investors can buy and sell the company’s stock.
Nasdaq is a major U.S. stock exchange where companies list shares for public trading. The segment mentions Factorial Energy going public there under a specific ticker.
Kia
"and is developing solid-state battery technology in partnership with Mercedes-Benz, Stellantis, Hyundai, and Kia."
Kia is a car company partnering on battery development. Working together can speed up testing and preparation for real production.
Kia is an automaker mentioned as part of the partnership network for solid-state battery technology. Such partnerships can accelerate qualification and help plan for manufacturing scale-up.
Mercedes-Benz
"and is developing solid-state battery technology in partnership with Mercedes-Benz, Stellantis, Hyundai, and Kia."
Mercedes-Benz is a car company partnering on battery development. Partnerships like this help a battery maker prove the technology and prepare it for real cars.
Mercedes-Benz is a major automaker mentioned here as a partner in Factorial Energy’s solid-state battery development. Automaker partnerships are important because they can support validation, qualification, and eventual vehicle integration.
Stellantis
"and is developing solid-state battery technology in partnership with Mercedes-Benz, Stellantis, Hyundai, and Kia."
Stellantis is a large car company partnering on battery work. Their involvement can help ensure the battery meets the needs of real production vehicles.
Stellantis is an automaker group mentioned as a partner for solid-state battery technology development. In battery programs, automakers typically help with testing requirements and scaling plans for production.
Hyundai
"and is developing solid-state battery technology in partnership with Mercedes-Benz, Stellantis, Hyundai, and Kia."
Hyundai is a car company partnering on battery development. That helps the battery maker align with what cars need in the real world.
Hyundai is an automaker mentioned as a partner in Factorial Energy’s solid-state battery development. Automaker involvement matters because it connects battery prototypes to vehicle-level requirements.
mass market
"and how geopolitical tensions are shaping when and whether solid-state batteries reach the mass market."
“Mass market” here means widespread consumer adoption, not just limited pilot programs or niche vehicles. The segment frames geopolitical tensions as a factor that can affect timing and availability of solid-state batteries for broad EV production.
SPAC
"So Factorial recently announced that it completed a business combination with the SPAC and has begun trading on Nasdaq."
A SPAC is a “blank-check” style company that raises money first, then merges with an operating company to help it become publicly traded. It’s one way companies can go public.
SPAC stands for Special Purpose Acquisition Company. It’s a type of public vehicle that can merge with a private company, effectively taking it public without the traditional IPO process.
lab to manufacturing scale
"When you speak about that commercialization strategy, battery startups have in the past struggled to sort of get from the lab to manufacturing scale."
This phrase means the hard step of taking a battery idea that works in a lab and making it in large quantities. It’s not just about performance—it’s also about making it consistently and cheaply enough for mass production.
“Lab to manufacturing scale” refers to the challenge of turning a battery chemistry or prototype that works in research settings into a product that can be produced reliably at high volume. For batteries, scaling often involves process control, yield, and consistent performance across many cells and packs.
cycle life
"Some are claiming higher energy density, higher cycle life, and great temperature window, etc."
Cycle life is basically how many times you can recharge and use the battery before it starts to wear out. A longer cycle life means the battery should last longer in an EV.
Cycle life is the number of charge-and-discharge cycles a battery can go through before its capacity drops significantly. Longer cycle life matters for EVs because it affects how long the battery remains useful.
temperature window
"Some are claiming higher energy density, higher cycle life, and great temperature window, etc."
Temperature window means the temperatures where a battery still works well. If the window is wider, the battery can handle more extreme hot or cold weather without losing too much performance.
Temperature window refers to the range of temperatures where a battery can operate effectively and safely. A wider temperature window helps maintain performance in cold winters and hot climates.
production program
"And we also recently received the first production program from a US supercar maker called Karma Automotive."
A production program means the company is planning to put the technology into real cars that will be built. It’s a step beyond prototypes and testing.
A production program is an automaker’s formal plan to move a technology from development into actual vehicle manufacturing. When a battery supplier says it has a production program, it usually means there’s a path to real production volumes and integration.
gravimetric
"And when it comes to high energy density, [736.1s] it has both a definition of high energy on a volumetric and gravimetric perspective. [742.5s] So it basically means the energy that's housed under the same volume or the same weight."
Gravimetric energy density means “energy per unit of weight.” If a battery stores more energy per kilogram, it can help the car go farther without adding as much mass. The speaker is using this to explain range improvements from better batteries.
Gravimetric energy density is the amount of battery energy stored per unit of mass (for example, per kilogram). It complements volumetric energy density because a battery can be compact but still heavy, or light but bulky. The speaker uses both to argue that higher density can extend range by improving both packaging and weight.
volumetric
"And when it comes to high energy density, [736.1s] it has both a definition of high energy on a volumetric and gravimetric perspective. [742.5s] So it basically means the energy that's housed under the same volume or the same weight."
Volumetric energy density just means “energy per unit of space.” If a battery is more energy-dense by volume, it can fit more range into the same battery size. That helps designers keep the car’s packaging efficient.
Volumetric energy density is the amount of battery energy stored per unit of volume (for example, per liter). It’s contrasted with gravimetric energy density (per unit mass) to show how battery design affects both packaging and vehicle weight. The speaker uses it to explain why higher density can extend EV range without taking up more space.
Mercedes EQS
"So this plays into the story of [759.5s] a lot of this premium vehicle fleet. And for example, the Mercedes vehicle, they had [766.6s] like 800 kilometer range with the EQS that's being a flagship vehicle in our fleet."
The Mercedes EQS is Mercedes-Benz’s top long-range electric car. In this discussion, it’s mentioned as an example of a premium EV that can already go around 800 kilometers on a charge. The point is to compare how better battery tech could push range even further.
The Mercedes EQS is a flagship, full-size luxury EV from Mercedes-Benz, known for using a large battery pack to target long range. In this segment, the host cites an “800 kilometer range” figure for the EQS, tying it directly to battery energy density and solid-state cell claims. It’s used as the premium benchmark against which the speaker compares their own pack goals.
solid-state battery cells
"And with our vehicle, we're able to extend that to 1,205 kilometers with the vehicle [779.0s] that Mercedes built. It was powered by factorial batteries, solid-state battery cells."
Solid-state battery cells are a newer kind of EV battery where the “stuff that moves ions” inside the battery is solid instead of liquid. The goal is usually better safety and more energy stored in the same space. Here, they’re presented as the technology behind longer range.
Solid-state battery cells replace the liquid or gel electrolyte found in conventional lithium-ion packs with a solid electrolyte. That design is often pursued to improve safety and potentially enable higher energy density, which can translate into longer EV range or smaller/lighter battery packs. In this segment, the speaker links Mercedes’ claimed range to “factorial batteries” using solid-state cells.
demonstration fleet
"For example, we launched a demonstration fleet with Solantis last year. [797.4s] We made a press release [797.4s] last year that we're going to be on track to deliver a vehicle in 2026 as part of the demonstration [804.0s] fleet."
A demonstration fleet is a small group of test vehicles used to prove a new technology in the real world. It helps the company learn how the cars behave outside the lab. Here, it’s mentioned as a step toward delivering vehicles in 2026.
A demonstration fleet is a set of pre-production or pilot vehicles used to validate technology in real-world conditions and to gather performance and operational data. In this segment, it’s tied to a plan to deliver a vehicle in 2026 as part of a partnership effort. That’s a common step before scaling manufacturing.
battery chemistry
"So the battery chemistry could be the same. [862.6s] Biking 24, we shipped the large-format cell [869.9s] to Mercedes."
Battery chemistry means the “type” of battery—what materials are inside and how it works chemically. The speaker is saying different car makers might use the same basic battery type, even if the final battery pack design changes. That could help reduce costs.
Battery chemistry is the specific materials and electrochemical system inside a battery (for example, the electrolyte and electrode pair). The speaker argues that even if vehicle designs differ, the underlying chemistry could be shared across manufacturers. That’s presented as a pathway to shared development and potentially lower costs.
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