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Daimler battery IPO mystery as it earmarks $1billion for battery production

Fri, 05/29/2020 - 10:51 -- Paul Crompton

German vehicle OEM conglomerate Daimler is planning to invest in nickel-cobalt-manganese battery maker Farasis Energy's IPO, according to reports.

The announcement, reported by The New York Times, comes as the electric vehicle battery maker Farasis received regulatory approval to raise around 3.4 billion yuan ($479 million) in an initial public offering on China’s Nasdaq-like STAR board.

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