Farasis and Geely form battery JV

Farasis Energy and Geely Technology signed an agreement on 17 May 2021 to establish a joint venture with registered capital of 1 billion yuan ($155.6 million) for R&D, production and sale of lithium-ion batteries. Geely Technology will hold 65% of the JV. The JV targets 120 GWh annual capacity, with first phase of 20 GWh starting construction in 2021.

“The agreement stipulates that the new joint venture will involve a registered capital of 1 billion yuan ($155.577 million or approximately 127 million euros), 65% of which are subscribed by Geely Technology.”electrive.com

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• electrive.comFarasis and Geely establish JV for Geely batteries - electrive.comCarrie HampelMay 23, 2021

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