Mercedes-Benz outlines battery localisation strategy as it buys into China-based battery maker Farasis

Mercedes-Benz has purchased a 3% equity stake in China-based Tier Two lithium ion battery cell producer, Farasis Energy as part of an expected investment for the battery makers $480m IPO later this year. Mercedes Benz said it was “investing a multi-million euro amount” which Benchmark estimates to be €13m into Farasis which in return gives […]