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Farasis Energy selects Germany for first European LIB plant

San Francisco-based lithium-ion tech company, Farasis Energy, plans to invest more than €600 million (US$672m) in building a battery cell, module and packaging production facility in the eastern German state of Saxony-Anhalt.

The company’s newly formed subsidiary, Farasis Energy Europe, will operate what will be its first European plant at Bitterfeld-Wolfen— which is expected to start making batteries for pure electric vehicles from around the end of 2022.

Farasis Energy

Farasis Energy Europe

Saxony-Anhalt

lithium-ion batteries

germany

Sebastian Wolf

Dr Jürgen Ude

Farasis Energy paves way for EU lithium cell plant

San Francisco-based lithium-ion tech company Farasis Energy is pushing ahead with plans to open a “large-scale” European lithium-ion cell production facility after securing financing “exceeding US$1 billion”.

The investment boost from C-round financing comes just two months after the company established a new manufacturing base in Zhenjiang, China with a planned annual capacity of 20 gigawatt-hours.

China-US firms invest in Beijing batteries project

Chinese carmaker BAIC Group and US-owned Chinese battery firm Funeng Technology (Ganzhou) are to invest a total of CNY10 billion ($1.2bn) to launch a batteries plant for new energy vehicles in Shunyi, Bejing.

The Shunyi district government said it has given the go-ahead for BAIC and Funeng to manufacture battery cells and battery packs with an annual production capacity of 8GWh.

Beijing

BAIC Group

Funeng Technology (Ganzhou)

Farasis Energy

battery manufacturing plant