Farasis Energy has already established a manufacturing plant in China
Farasis Energy, a global leader in the development and manufacture of lithium-ion cells, modules and large battery systems, has completed C-round financing exceeding US$1 billion. The capital raised is being used to accelerate the expansion of their global automotive battery manufacturing infrastructure.
In July of this year, the company established a new manufacturing base in Zhenjiang, China with a planned annual capacity of 20 GWh. At the same time, the company officially launched their European Manufacturing Centre Project, and opened an office in Stuttgart, Germany staffed with business development, engineering and corporate personnel.
The feasibility study and site selection evaluation for the European Manufacturing Centre has been completed with the plant scheduled to be in place to support major European vehicle plants in 2021.
With rapidly increasing demand from their customers and the strong support of their shareholders, Farasis expects to announce additional global expansion projects throughout 2018 and 2019.
“We are excited about establishing a formal European headquarters and are currently selecting the final site for a large-scale lithium-ion cell, module and systems manufacturing plant in the European Union,” said Farasis Energy CEO Yu Wang.
“European manufacturers have been leaders in the development of electric vehicles and battery powered technology,” says Farasis Energy CTO Keith Kepler. “As we’ve established our greater footprint in China, European expansion is the next in a phased approach to better serve our customers globally.”