Farasis Energy, leader in lithium-ion battery energy storage, expands strategic network in Europe.
With two new partnerships in Europe, Farasis Energy, one of the leading providers of innovative lithium-ion energy storage solutions, is expanding its strategic network in the field of e-mobility
Farasis Energy, one of the leading providers of innovative lithium-ion energy storage solutions, is expanding its strategic network in the European market in the field of e-mobility with two new partnerships:
Together with the German automotive supplier Hella, the battery manufacturer is developing a modular battery management system for use in electric vehicles. For a European manufacturer of commercial vehicles, Farasis supplies CO2-neutral battery cells for its e-buses, which are produced according to ethical standards.
For Farasis Energy, Europe is a growth market of great strategic importance. Consequently, the expert for battery technology founded Farasis Energy Europe GmbH based in Frickenhausen near Stuttgart in 2019.
In the same year, Farasis and the automotive group Daimler announced the agreement of a partnership in the field of sustainability – since 2020, the automotive group has held a 3 percent stake in the listed company Farasis Energy.
The new technology partnership with the automotive supplier Hella is a further step for Farasis to expand its strategic network in Europe. The focus of the cooperation is on offering a modular platform for battery management systems, which is used in different types of electric vehicles such as cars, trucks or buses.
By pooling their know-how in the field of battery production (Farasis) and control units (Hella), the two companies will offer their customers decisive technological and competitive advantages in the future. With the planned production of this platform in Europe, Farasis is also underpinning its claim in the area of sustainability.
Expert for lithium-ion batteries since 2009
Farasis Energy is not a blank slate in the industry: Founded in California in 2002, the company has been manufacturing lithium-ion batteries for electrically powered commercial vehicles and two-wheelers since 2009. In 2016, Farasis supplied the first cells for the operation of cars.
The battery manufacturer has an annual production capacity of 21 GWh (as of 2020), employs more than 4,000 people worldwide and operates research and development centers in China, Germany and the USA as well as two production facilities in Ganzhou and Zhenjiang (China). Further global production sites outside China are currently in preparation.
Technological pioneer in energy storage
Research and development is at the heart of Farasis Energy’s entrepreneurial activities: only in March, the company presented its new generation of battery cells for electric vehicles. At 330 Wh/kg, their energy density (and thus range) is 25 percent above the current market values – with a simultaneously reduced fast charging time of less than 20 minutes.
A technological advantage that potential cooperation partners worldwide appreciate. Just recently, Farasis, together with the Chinese automotive group Geely Technologies, founded a joint venture for the development and production of lithium-ion battery systems with a total capacity of 120 GWh per year.
Sustainable production for effective climate protection
In order for electromobility to make an effective contribution to climate protection, the batteries required for energy storage must be produced and recycled. For Farasis, this topic has the highest priority: The production of batteries for European automobile manufacturers is already certified as CO2-neutral. In addition, Farasis is a member of the RCI (Responsible Cobalt Initiative) and focuses on the implementation of the IRMA standard for lithium and cobalt mines.
The recycling of batteries in China is carried out in partnership with specialized companies, corresponding cooperations in Europe are currently being set up. The goal for Farasis is a closed value chain of the battery over the entire life cycle from design to recycling.
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Farasis Energy expands strategic network in Europe, June 24, 2021
