Mercedes-Benz has launched a strategic partnership with the Chinese battery cell manufacturer Farasis Energy, and taken an equity stake in the company. Key elements of the agreement include the development and industrialization of advanced cell technologies as well as goals for cost competitiveness. The technological focus is on significant increases in range through advances in energy density and charging time reduction. The contract will provide a secure supply of battery cells for Mercedes-Benz’s electrification strategy, while Farasis gains security for its CO2-neutral battery cell plant in Bitterfeld-Wolfen.
“We are very pleased to further expand our partnership with Farasis in taking a decisive step within the implementation of our ‘Electric first’ strategy,” said Mercedes-Benz COO Markus Schäfer. “With this agreement, we contribute our expertise in the field of battery cell development. At the same time, we are providing a boost for Farasis’s new plant and promoting the sustainable development of a key technology and its establishment in Germany. We share with our partner the common vision of a more sustainable world through CO2-neutral mobility.”
Hubertus Troska, a member of Daimler’s Board of Management, added, “China is the world’s largest EV market, with tremendous potential for further development. By taking a stake in a Chinese battery cell manufacturer for the first time, we will further leverage the potential of advanced technology partners in the market, enabling us to pursue our electric strategy globally.”