Factorial adds former Daimler chief Zetsche to board

US solid-state battery developer Factorial has appointed former Daimler and Chrysler chief Dieter Zetsche to its Board of Directors, effective on the closing of the company’s previously announced business combination with Cartesian Growth Corporation III. Zetsche has served as an early investor and advisor to Factorial since 2021.

Factorial said the appointment forms part of its preparation for public company status, focused on governance and operational discipline. The combined entity will be Factorial’s vehicle to public markets.

Zetsche served as Chairman of the Board of Management of Daimler AG from 2006 to 2019, leading Mercedes-Benz through global expansion and early investments in electrification and autonomous driving. He previously served as President and Chief Executive of Chrysler Group, and holds a doctorate in electrical engineering from the University of Karlsruhe.

In a statement, Siyu Huang, Chief Executive of Factorial, said: “Working alongside Dr Zetsche as an early investor and advisor has been one of the most valuable experiences in Factorial’s journey. His extraordinary product vision and business acumen have shaped how we think about building a company that endures.”

Zetsche added: “What has always set Factorial apart, and what continues to energise me, is the team’s exceptional combination of scientific rigour and commercial discipline. The breadth of applications ahead, spanning mobility, drones, and industrial markets, only adds to my conviction.”

Source: Factorial