US-based Farasis will manufacture batteries for EVs in Germany

9 May 2019, 08:16:42

US-based Farasis will manufacture batteries for EVs in GermanyFarasis Energy has announced that it plans to build a plant in Bitterfeld-Wolfen - a small town in the Saxony-Anhalt province of Germany. The investment will exceed 600 million euros including the establishment of the Farasis Energy Europe subsidiary which is headquartered in Stuttgart. This sum is also the biggest investment in the past 15 years for Germany's poorest province. However, it is the home of some 270 automotive suppliers that employ 23,000 people. The Farasis plant alone will create at least 600 new jobs when it reaches full expansions. It will start with the production of 6GWh hours per year and as of 2022 this will grow to 10GWh per year. This means that it will be able to make batteries for 60,000-80,000 BEVs.

Farasis Energy has been founded in 2002 in California, US with headquarters and two plants in China - Ganzhou and Zhenjiang. In China, it is the third largest manufacturer of EV batteries. Farasis is also the world's second largest provider of pouch cell batteries.Source

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