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Li-ion battery group Farasis to set up battery factory in Germany
Global battery manufacturer Farasis Energy Inc. announced its intent to set up a battery cell, module and pack production facility in Bitterfeld-Wolfen in thefederal state of Saxony-Anhalt, Germany.
Via its newly founded subsidiary Farasis Energy Europe GmbH, the company will invest more than EUR 600 million in the new plant and create at least 600 new jobs, a press release from the Investment and Marketing Corporation Saxony-Anhalt. Beginning at he end of 2022, the production capacity is to be expanded continuously on an annual basis from an initial 6- to 10-Gigawatt hours; purely for electric vehicles. Farasis was founded in California in 2002 and operates research centres in the USA as well as in China. There are currently two production plants in Ganzhou and Zhenjiang (China). Europe is the next destination of the company’s phased expansion. This year, the Stuttgart-based Farasis Energy Europe GmbH was founded. A team of experienced battery experts led the location selection for the European factory since the middle of last year. “We focused on four main groups of decision-making criteria. Of particular importance for us were the topics of location quality and environmental protection,” says Dr Maik Cordes, Head of Business Development at Farasis Europe, in the press release. “After a long and intensive assessment of several dozen locations throughout Europe, we are now convinced that Bitterfeld-Wolfen in Saxony-Anhalt offers the best overall package for the sustainable production of Li-ion batteries for Farasis’s first European production site,” adds Sebastian Wolf, Managing Director of Farasis Energy Europe.
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