Mercedes-Benz invests in battery production with China’s Farasis

Germany-based car manufacturer Mercedes-Benz has agreed a strategic partnership with China-based battery cell maker Farasis Energy, which includes buying a 3% stake in the Chinese company, it said on Friday July 3.

The minority stake will allow Daimler, Mercedes’ parent company, to nominate a representative for a seat on the battery cell maker’s supervisory board.
The minority investment is awaiting regulatory approval, it added.
Among key elements of the agreement are the development and industrialization of highly advanced cell technologies, alongside ambitious goals for cost-competitiveness.

“The technological focus is on significant increases in [driving] range...

Published

Dalila Ouerghi

July 03, 2020

16:22 GMT

London