Farasis Energy Plans to Mass-Produce Batteries for Geely in 2023

Lithium-ion battery firm Farasis Energy said on Monday via an investor interaction platform that its passenger vehicle and cooperative commercial vehicle platform, operated in cooperation with Chinese automaker Geely, has been running smoothly, adding that it plans to initiate the mass production of Geely batteries in 2023.

According to Farasis Energy, the R&D of solid-state batteries is one of the firm’s key research projects, which is progressing smoothly at present. Meanwhile, the 330wh/kg high energy density battery the company developed has been sent to its automaker customers.

Farasis Energy is one of the leading enterprises in the ternary soft-pack power batteries industry all over the world. Given the products’ advantages of high energy density, high safety, long life cycle and excellent low-temperature performance, the company has established long-term cooperation with many Chinese and foreign high-quality car companies, and continuously provides high-quality power battery products for electric vehicle platforms of customers such as Daimler, Daimler AG GAC Motor, Geely, TOGG, Dongfeng, Jiangling and Great Wall Motor.

This year, Farasis Energy is actively expanding its production capacity. In August 2021, Farasis Energy signed an investment cooperation agreement with the Management Committee of Sanshan Economic Development Zone in Wuhu, Anhui Province. The company plans to set up a project company in Sanshan Economic Development Zone and invest in the construction of a new energy battery project with an annual output of 24GWh. According to the company’s plan, the project would start in October 2021.

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Geely Holding Group, Farasis Energy’s partner, is one of the world’s leading car companies with five product lines covering different categories of commercial vehicles: heavy trucks, light trucks, small and micro trucks, LCVs and buses.

On December 7, 2021, Hangzhou Yineng Battery Management Technology Co., Ltd. was established. According to its shareholder information, the company is wholly owned by Geely Automobile Group Co., Ltd. Its business scope includes electric vehicle charging infrastructure operations, centralized fast-charging stations, charging and sale of motor vehicles, charging pile sales, and so on.