Daimler: Mercedes-Benz takes stake in battery cell maker
(CercleFinance.com) - Mercedes-Benz is taking a stake of around 3% in Chinese battery cell manufacturer Farasis, as part of its aim to become "carbon neutral," Daimler's luxury car unit said on Friday.
The move will provide a secure supply of battery cells for Mercedes-Benz's electrification strategy, the carmaker said, while Farasis gains security for the battery cell plant that it is currently building in eastern Germany.
This multi-million euro investment, which is part of Farasis' IPO, will give Daimler the possibility of nominating a representative on the battery cell maker's supervisory board, the group said.
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