Major Li-ion battery supplier Farasis Energy announced on January 29 that it has entered into an investment cooperation agreement with the administrative committee of the Guangzhou Economic and Technological Development Zone. Under the agreement, Farasis will set up a base with an annual production capacity of 30GWh for LFP and ternary batteries that are purposed for electric mobility.
Farasis said the base will help promote the company’s latest “Super Pouch Solution” and further raise the company’s overall competitiveness. Located in China’s Guangdong Province, the base will not only serve nearby clients but also provide the supporting production capacity for exploring new markets and securing new clients.
The agreement is also expected to help Farasis maintain its leading position within the Li-ion battery industry with respect to R&D. Furthermore, the base will improve the company’s capability in terms of supplying products and guaranteeing services. Many carmakers have set up shop in Guangzhou and the wider southern region of China. Furthermore, the global demand for electric or new energy vehicles is now growing at a rapid pace. Therefore, a base in Guangzhou will enable Farasis to get a larger slice of the market share for batteries that are purposed for electric mobility.
Established in 2009, Farasis offers Li-ion batteries for electric vehicles, whole battery systems for electric vehicles, and battery energy storage systems. It has the capabilities to develop, manufacture, and sell these products. The company is currently focusing on supplying and promoting its ternary battery cells that feature a high nickel content, battery modules, and pouch batteries.
Currently, Farasis have two main operating bases that are respectively located in Ganzhou (Jiangxi Province) and Zhenjiang (Jiangsu Province). The Ganzhou base is operating with annual production capacity of 5GWh, whereas the Zhenjiang base has a planned annual production capacity of 24GWh. The phase 1 and 2 of the Zhenjiang base has completed ramp-up (16GWh). Farasis has also formed a joint venture with Geely Technology. Presently, the joint venture has an operating plant in Ganzhou.
Regarding capacity expansion activities, Farasis is now setting up a base with an annual production capacity of 24GWh in Wuhu (Anhui Province). The base is scheduled to enter operation within this year and will be used to manufacture batteries for various applications in addition to electric vehicles. The phase 2 of the Wuhu base contains an annual production capacity of 6GWh for LFP batteries deployed in large-scale energy storage systems. The phase 2 of the Wuhu base is scheduled to enter operation in the fourth quarter of this year.
In August 2022, Farasis announced the plan to build the aforementioned 30GWh base in Ganzhou. The phase 1 of the base will comprise an annual production capacity of 18GWh for ternary pouch batteries. Moreover, Farasis has recently inked a cooperation agreement with the government of Kunming (Yunnan Province). Under the agreement, Farasis will set up a local battery production site with an annual production capacity of 24GWh for LFP batteries that are purposed for energy storage.
This article is a translation of a Chinese article posted by Marry at TrendForce. It contains information that is either sourced from other news outlets or accessible in the public domain. Some Chinese names are transcribed into English using Hanyu Pinyin.