# Farasis Energy
Farasis Energy (孚能科技, Farasis Energy (Ganzhou) Co., Ltd., stock code 688567.SH) is a Chinese manufacturer of lithium-ion power batteries for electric vehicles, headquartered in Ganzhou, Jiangxi Province, founded in [Silicon Valley](https://www.edgepedia.org/silicon-valley) in 2002 by Dr. Keith Kepler and Dr. Yu Wang with its Chinese manufacturing base established in 2009, and listed on the [Shanghai Stock Exchange](https://www.edgepedia.org/shanghai-stock-exchange)'s STAR Market since July 2020. Since early 2025 it has been controlled by Guangzhou Industrial Investment Holding Group, an arm of the Guangzhou Municipal Government.[1](https://en.farasis.com/content/details_32_117.html) • [2](https://carnewschina.com/2025/07/21/farasis-energy-backed-by-mercedes-benz-starts-solid-state-battery-pilot-production-with-0-2-gwh-line-coming-by-year-end/)
| Fact | Detail |
|---|---|
| Founded | 2002 in Silicon Valley, California; Ganzhou R&D and manufacturing facility established 2009[3](https://www.farasis-energy.com/en/about-us/) |
| Headquarters | Ganzhou, Jiangxi, China[1](https://en.farasis.com/content/details_32_117.html) |
| Founders | Dr. Keith Kepler and Dr. Yu Wang[3](https://www.farasis-energy.com/en/about-us/) |
| Business | EV power batteries; NCM ternary soft-pack (pouch) cells[1](https://en.farasis.com/content/details_32_117.html) |
| Largest disclosed round | RMB 5 billion from China Reform, January 2018[1](https://en.farasis.com/content/details_32_117.html) |
| IPO | STAR Market, July 17, 2020; ~214 million shares at RMB 15.9, roughly RMB 3.4 billion raised; market cap near RMB 30 billion on debut[4](https://batteryindustry.net/shares-for-ev-battery-firm-farasis-jump-76-in-shanghai-ipo/) |
| Notable investors | China Reform (state-backed); Mercedes-Benz with approximately 3%[1](https://en.farasis.com/content/details_32_117.html) |
| Status | Active; controlled by Guangzhou Industrial Investment Holding Group since early 2025[2](https://carnewschina.com/2025/07/21/farasis-energy-backed-by-mercedes-benz-starts-solid-state-battery-pilot-production-with-0-2-gwh-line-coming-by-year-end/) |
## What Farasis makes
Farasis produces soft-pack, also called pouch, NCM ternary lithium-ion cells for electric vehicles. NCM refers to a cathode made of nickel, cobalt, and manganese.
The company says it was among the first in China to mass-produce NCM pouch-cell power batteries. At its July 2020 listing it reported mass-produced cells at an energy density of 285 Wh/kg, with system-level density exceeding 200 Wh/kg.[1](https://en.farasis.com/content/details_32_117.html) In 2024 the company claimed its P75 and P73 NCM cells, developed since 2018, allow packs that last a million miles over 15 years while retaining over 70% of capacity, with fast charging in 20 to 30 minutes; it says these cells are mass-produced for Voyah, the premium arm of Dongfeng, and for [Mercedes-Benz](https://www.edgepedia.org/mercedes-benz). These durability figures are the company's own claims and have not been independently verified.[5](https://www.prnewswire.com/news-releases/farasis-energy-unveils-breakthrough-in-million-mile-battery-technology-302202061.html)
## Founding and early history
Dr. Keith Kepler and Dr. Yu Wang founded Farasis Energy in Silicon Valley, California, in 2002; the founding team had worked on lithium-ion power battery research and development since 1997.[3](https://www.farasis-energy.com/en/about-us/) • [1](https://en.farasis.com/content/details_32_117.html) In 2009 the company established an R&D and manufacturing facility in Ganzhou, Jiangxi, which it describes as the start of industrializing large-scale power battery technology for new energy vehicles.[3](https://www.farasis-energy.com/en/about-us/) • [1](https://en.farasis.com/content/details_32_117.html) It later launched mass production in [Zhenjiang](https://www.edgepedia.org/zhenjiang), Jiangsu, and founded Farasis Energy Europe GmbH in Frickenhausen, Germany, to support European customers; it has also supplied battery systems to electric vertical-takeoff-and-landing (e-VTOL) aircraft makers.[3](https://www.farasis-energy.com/en/about-us/)
Early automotive supply relationships began with BAIC and Great Wall Motors in 2016, and Farasis became a certified Daimler supplier in late 2018.[4](https://batteryindustry.net/shares-for-ev-battery-firm-farasis-jump-76-in-shanghai-ipo/) At the time of the Mercedes-Benz stake announcement in 2020 it employed more than 3,500 people worldwide, with R&D centers in China, Germany, and the US and production plants in Ganzhou and Zhenjiang; localized production in Europe and the US was described as in planning.[6](https://en.farasis.com/content/details_32_116.html)
## Funding and the STAR Market IPO
In January 2018, according to Farasis, China Reform (a state-backed investor) invested RMB 5 billion to accelerate the company's development and internationalization.[1](https://en.farasis.com/content/details_32_117.html)
Farasis listed on the STAR Market of the Shanghai Stock Exchange on July 17, 2020, under code 688567.SH.[1](https://en.farasis.com/content/details_32_117.html) It issued around 214 million shares at RMB 15.9 per share, about 20% of post-issuance share capital, implying proceeds of roughly RMB 3.4 billion. Shares opened 114% above the offer price and closed the first day 76% higher at RMB 27.96 ($3.99), giving a market capitalization of nearly RMB 30 billion ($4.3 billion).[4](https://batteryindustry.net/shares-for-ev-battery-firm-farasis-jump-76-in-shanghai-ipo/) As part of the IPO, Daimler Greater China invested a multi-million euro amount for an approximately 3% stake, worth RMB 510 million according to Farasis's prospectus, with the right to nominate a representative for a supervisory board seat; prospectus proceeds were earmarked in part for a battery plant in Bitterfeld-Wolfen, Germany.[6](https://en.farasis.com/content/details_32_116.html) • [4](https://batteryindustry.net/shares-for-ev-battery-firm-farasis-jump-76-in-shanghai-ipo/) In September 2021 the company announced a private placement of at most 140 million shares to up to 35 investors, intended to raise no more than RMB 5.2 billion ($816.468 million), with RMB 4.6 billion for a high-performance power battery manufacturing project and RMB 600 million as a technology reserve fund.[7](https://autonews.gasgoo.com/articles/ev/70019464)
## Business, customers and capacity
Farasis supplies pouch batteries for models from Daimler, GAC Group, Geely Auto, TOGG, Dongfeng Motor, Jiangling Motors, and [Great Wall Motor](https://www.edgepedia.org/great-wall-motor).[7](https://autonews.gasgoo.com/articles/ev/70019464) Volume production for Daimler began in April 2021 under supply agreements signed at the end of 2018, and the company continues to supply cells for Mercedes-Benz's EQE and EQS electric models from its Chinese plants.[7](https://autonews.gasgoo.com/articles/ev/70019464) • [2](https://carnewschina.com/2025/07/21/farasis-energy-backed-by-mercedes-benz-starts-solid-state-battery-pilot-production-with-0-2-gwh-line-coming-by-year-end/)
Capacity grew through both standalone plants and joint ventures. The Ganzhou and Zhenjiang plants had a combined annual output of 13 GWh, expected to reach 21 GWh by the end of 2021, with 8 GWh mapped for Zhenjiang phase three and a 24 GWh plant planned in Wuhu.[7](https://autonews.gasgoo.com/articles/ev/70019464) In May 2021 Farasis agreed a battery joint venture with Geely Technology Group, owned 65% by Geely and 35% by Farasis.[7](https://autonews.gasgoo.com/articles/ev/70019464) It also operates Siro, a battery joint venture with Turkish automaker Togg; in late October 2021 Siro signed a pact with Turkey's Ministry of Industry and Technology to build 20 GWh of battery manufacturing facilities.[7](https://autonews.gasgoo.com/articles/ev/70019464) • [2](https://carnewschina.com/2025/07/21/farasis-energy-backed-by-mercedes-benz-starts-solid-state-battery-pilot-production-with-0-2-gwh-line-coming-by-year-end/)
## By the numbers
- 2.27 GWh of battery sales volume in China in 2019, making Farasis the country's fifth-largest battery maker, at less than 10% of industry leader CATL's output.[4](https://batteryindustry.net/shares-for-ev-battery-firm-farasis-jump-76-in-shanghai-ipo/)
- 285 Wh/kg energy density in mass-produced cells at listing, with system density above 200 Wh/kg.[1](https://en.farasis.com/content/details_32_117.html)
- RMB 5 billion China Reform investment in early 2018.[1](https://en.farasis.com/content/details_32_117.html)
- RMB 3.4 billion IPO proceeds; nearly RMB 30 billion market capitalization on debut day.[4](https://batteryindustry.net/shares-for-ev-battery-firm-farasis-jump-76-in-shanghai-ipo/)
- Up to RMB 5.2 billion planned private placement, announced September 2021.[7](https://autonews.gasgoo.com/articles/ev/70019464)
- 0.2 GWh solid-state pilot line targeted for completion by end-2025; 400 Wh/kg energy-density target; GWh-scale production expected in 2026.[2](https://carnewschina.com/2025/07/21/farasis-energy-backed-by-mercedes-benz-starts-solid-state-battery-pilot-production-with-0-2-gwh-line-coming-by-year-end/)
## Recent developments
In early 2025 the Guangzhou Municipal Government took control of Farasis through Guangzhou Industrial Investment Holding Group.[2](https://carnewschina.com/2025/07/21/farasis-energy-backed-by-mercedes-benz-starts-solid-state-battery-pilot-production-with-0-2-gwh-line-coming-by-year-end/) In July 2025 the company announced that its sulfide-based solid-state battery program had entered pilot production, with a 0.2 GWh pilot line to be completed by the end of 2025 and 60Ah samples to be delivered to strategic partner customers. The design targets energy density above 400 Wh/kg using high-nickel ternary cathodes, soft-pack stacked cells, and high-silicon or lithium-metal anodes, with GWh-scale production expected in 2026.[2](https://carnewschina.com/2025/07/21/farasis-energy-backed-by-mercedes-benz-starts-solid-state-battery-pilot-production-with-0-2-gwh-line-coming-by-year-end/)
The company's own materials list partnerships with BMS supplier Eberspächer, LFP cell supplier Beyonder AS, and [Geely Radar](https://www.edgepedia.org/geely-radar), and state that its pouch cell installed capacity ranked first in China for eight consecutive years.[3](https://www.farasis-energy.com/en/about-us/) Mercedes-Benz remains a customer, with EQE and EQS cells supplied from Farasis's Chinese plants.[2](https://carnewschina.com/2025/07/21/farasis-energy-backed-by-mercedes-benz-starts-solid-state-battery-pilot-production-with-0-2-gwh-line-coming-by-year-end/)
## How it compares with CATL, BYD and CALB
Farasis occupies a niche defined by cell format rather than scale. In 2019 it was China's fifth-largest battery maker by domestic sales volume, but at 2.27 GWh it produced less than 10% of what CATL produced.[4](https://batteryindustry.net/shares-for-ev-battery-firm-farasis-jump-76-in-shanghai-ipo/) Its differentiation is the soft-pack pouch format: it ranked first in domestic soft-pack battery shipments for seven consecutive years from 2017 to 2023.[2](https://carnewschina.com/2025/07/21/farasis-energy-backed-by-mercedes-benz-starts-solid-state-battery-pilot-production-with-0-2-gwh-line-coming-by-year-end/) The evidence available here does not include post-2019 market-share figures for Farasis relative to CATL, BYD, or CALB.
## References
1. Farasis Energy is listed on the Science and Technology Innovation Board today! (Farasis Energy, company site) — https://en.farasis.com/content/details_32_117.html
2. Farasis Energy, backed by Mercedes-Benz, starts solid-state battery pilot production with 0.2 GWh line coming by year-end (CarNewsChina, July 21, 2025) — https://carnewschina.com/2025/07/21/farasis-energy-backed-by-mercedes-benz-starts-solid-state-battery-pilot-production-with-0-2-gwh-line-coming-by-year-end/
3. About us (Farasis Energy, company site) — https://www.farasis-energy.com/en/about-us/
4. Shares for EV battery firm Farasis jump 76% in Shanghai IPO (Battery Industry) — https://batteryindustry.net/shares-for-ev-battery-firm-farasis-jump-76-in-shanghai-ipo/
5. Farasis Energy Unveils Breakthrough in Million-Mile Battery Technology (PR Newswire, company release) — https://www.prnewswire.com/news-releases/farasis-energy-unveils-breakthrough-in-million-mile-battery-technology-302202061.html
6. "Electric first", strategic cooperation: Mercedes-Benz Takes Stake in Chinese EV Battery Strategic Partners Farasis Energy (Farasis Energy, company site) — https://en.farasis.com/content/details_32_116.html
7. Farasis expands battery capacity through standalone efforts, joint ventures (Gasgoo) — https://autonews.gasgoo.com/articles/ev/70019464
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*Topic: Encyclopedia › Technology and the built world › Energy technology › Batteries and energy storage › Battery and cell manufacturers*
*Initially written Sep 17, 2026 · Reviewed: Sep 19, 2026 · Edited: Sep 19, 2026; Oct 11, 2026; Oct 15, 2026 · Last review: Sep 19, 2026*
*Copyright 2026 EdgeChat AI, a subsidiary of Biostate AI.*
License: Edgepedia Community License 1.0, https://www.edgepedia.org/edgepedia/license