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could soon follow Volkswagen’s path as it reportedly considers investment in battery cell manufacturer Farasis Energy","daimler-could-soon-follow-volkswagens-path-as-it-reportedly-considers-investment-in-battery-manufacturer-farasis-energy","article/daimler-could-soon-follow-volkswagens-path-as-it-reportedly-considers-investment-in-battery-manufacturer-farasis-energy",{"_uid":557,"date":558,"tags":559,"editor":563,"content":573,"excerpt":613,"featured":50,"reporter":614,"_editable":618,"component":619,"seo_title":553,"categories":620,"visibility":624,"author_company":49,"featured_image":625,"seo_description":613,"author_full_name":49,"author_job_title":49,"formattedDate":630,"formattedArticleDate":631},"2de47b7b-4187-4e18-983e-ca1d125fa836","2020-06-04 00:00",[560],{"slug":561,"name":562},"europe","Europe",[564],{"slug":565,"name":566,"content":567},"didi-bostock","Didi Bostock",{"job_title":568,"image":569,"bio":571,"linkedin":572},"Editor - Energy Transition & Economics",{"filename":570},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":574,"content":575},"doc",[576,583,588,593,598,603,608],{"type":577,"attrs":578,"content":579},"paragraph",{"textAlign":49},[580],{"text":581,"type":582},"While Volkswagen caught most attention at the end of May with news of its €1.1 billion investment in Chinese Guoxuan High Tech Co. (also known as Gotion) it was reported that Daimler is considering an investment in Chinese-American battery manufacturer Farasis Energy (Farasis).","text",{"type":577,"attrs":584,"content":585},{"textAlign":49},[586],{"text":587,"type":582},"Farasis initially announced at the start of Q2 2020 that it was preparing for an initial public offering (IPO) in the Shanghai Stock Exchange to raise RMB 3.4bn ($480m), which would value the company at RMB 30bn ($4.2bn).",{"type":577,"attrs":589,"content":590},{"textAlign":49},[591],{"text":592,"type":582},"Daimler’s reported interest in the tier 2 battery manufacturer would mark further OEM involvement in the lithium ion supply chain as a secure supply of battery cells becomes increasingly of concern to automakers, particularly European OEMs looking to meet stringent carbon emission targets.",{"type":577,"attrs":594,"content":595},{"textAlign":49},[596],{"text":597,"type":582},"Daimler already has an existing relationship with Farasis, having agreed in 2019 to purchase cells from the company’s European megafactory, which is currently under construction.",{"type":577,"attrs":599,"content":600},{"textAlign":49},[601],{"text":602,"type":582},"Farasis’s European megafactory, announced in May 2019, is to be located in Anhalt, Germany, and is expected to commence production in 2022, with a phase 1 capacity 10 GWh of production capacity according to Benchmark Minerals Lithium ion Battery Megafactory Assessment. Benchmark expects Farasis to focus on NCM cells when the plant reaches production, primarily NCM 622 and 811.",{"type":577,"attrs":604,"content":605},{"textAlign":49},[606],{"text":607,"type":582},"Farasis has four megafactories in the pipeline in total with 75 GWh of capacity in the pipeline for 2029 as assessed by Benchmark Minerals. The company has been mirroring the ambitions of tier 1 providers such as LG Chem, SK Innovation and recent tier 1 addition CATL in looking to expand its production base across different regions. It has two megafactories in China, one of which already has 10 GWh of production capacity, and a further megafactory in the USA for which a location is yet to be confirmed.",{"type":577,"attrs":609,"content":610},{"textAlign":49},[611],{"text":612,"type":582},"It is becoming increasingly important to automakers to have more influence on their supply of lithium ion cells and as shown by Volkswagen’s investment in Guoxuan. We have already seen a number reports of European automakers facing tier 1 battery cell bottlenecks this year, and while this is not a material issue now, as production ramps up through the 2020s this issue will likely become magnified. Daimler’s reported interest in Farasis is further evidence of how critical battery supply will be to auto producers through the 2020s and onwards.","While Volkswagen caught most attention at the end of May with news of its €1.1 billion investment in Chinese Guoxuan High Tech Co. (also known as Gotion) it was reported that Daimler is considering an investment in Chinese-American battery manufacturer Farasis Energy (Farasis). Farasis initially announced at the start of Q2 2020 that it was […]",[615],{"slug":565,"name":566,"content":616},{"job_title":568,"image":617,"bio":571,"linkedin":572},{"filename":570},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"2de47b7b-4187-4e18-983e-ca1d125fa836\", \"id\": \"\"}-->","article",[621],{"slug":622,"name":623},"batteries","Batteries","private",{"id":49,"alt":626,"name":626,"focus":626,"title":626,"source":626,"filename":627,"copyright":626,"fieldtype":628,"meta_data":629,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/62712a1782/bm-daimler-farasis-benchmark.jpg","asset",{"alt":626,"title":626,"source":626,"copyright":626},"Jun 04, 2020","4th June 2020",[],[],1792688595530]