Mercedes-Benz buys 3% stake of Chinese battery cell manufacturer

The luxury car manufacturer will also support a new battery cell plant in Germany, which will be carbon-neutral from the start of its construction

Mercedes-Benz has launched a new partnership, which includes taking a 3% equity stake in the Chinese battery cell manufacturer Farasis Energy.

The agreement aims to develop highly advanced cell technologies and will provide a secure supply of battery cells for the luxury car manufacturer.

The carmaker will also support a new plant for battery cells, which will be built by Farasis in Bitterfeld-Wolfen, Germany and will create up to 2,000 new jobs.

This facility is also designed to be carbon-neutral from the start.

Hubertus Troska, Member of the Board of Management of Daimler AG, Responsible for Greater China, said: “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.”

Markus Schäfer, Member of the Board of Management of Daimler AG and Mercedes-Benz AG, responsible for Daimler Group Research and Mercedes-Benz Cars COO, said: “By strategically expanding our business relationship, we are pushing the electrification of our model portfolio ahead. We share with our partner the common vision of a more sustainable world through carbon-neutral mobility.”

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