# 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.

- Type: Partnership
- Announced: 2021-05-17
- Where: China, China
- Value: $155.6M (1.00B CNY)
- Status: announced
- Capacity: 120 GWh per year (total); 20 GWh (first phase)
- Products: lithium-ion batteries, battery modules, battery management systems, cathode and anode materials, electrolyte, membrane separators
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md), [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [Farasis Energy](https://endata.com/companies/36885.md) (partner)
- [Geely Technology](https://endata.com/companies/55341.md) (partner)

## Sources

- [electrive.com](https://www.electrive.com/2021/05/23/farasis-and-geely-establish-jv-for-geely-batteries/), 2021-05-23: "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."

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