# Mercedes-Benz acquires stake in Farasis Energy

Mercedes-Benz acquired a stake in Chinese battery cell manufacturer Farasis Energy to secure battery supply for its electric vehicle plans. Farasis is building a plant in Bitterfeld-Wolfen, Germany, creating up to 2,000 jobs.

- Type: Acquisition
- Announced: 2020-07-03
- Where: Bitterfeld-Wolfen, Germany
- Jobs: 2,000
- Status: announced
- Products: battery cells
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Mercedes-Benz](https://endata.com/companies/1875.md) (acquirer)
- [Farasis Energy](https://endata.com/companies/36885.md) (target)

## Sources

- [electrek.co](https://electrek.co/2020/07/03/mercedes-benz-acquires-stake-chinese-battery-cell-manufacturer-farasis-energy/), 2020-07-03: "We are very pleased to further expand our partnership with Farasis in taking a decisive step within the implementation of our electric strategy 'Electric first.'"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.