This cooperation became another important milestone in the quest by Mercedes-Benz to implement the plan “Vision 2039” to reduce harmful emissions into the environment.
The company intends to do active development and industrialization of high-tech battery technology, and reduce production costs of batteries for its electric cars.
The Mercedes engineers in cooperation with specialists of the Chinese company intends to increase the cruising range of electric vehicles by increasing the energy density and reduce charging time. This agreement ensures the supply of power batteries for Mercedes-Benz, and Funeng Technology will be able to increase production capacity.
In order to meet the growing demand for batteries for the Mercedes Benz plant in Germany, Foneng Technology will build a plant for the production of battery Bitfile-Wolfen in East Germany. The plant will create up to 2,000 new jobs and will be carbon-neutral since the construction itself.
The company intends to repurchase about 3% of the shares of Funeng Technology. To this end, Daimler Greater China Investment Co., Ltd. invests tens of millions of euros in an initial public offering of shares of Funen Technology – the transaction has already approved by local regulatory authorities. This will give Daimler a chance to appoint a representative to the Supervisory Board Funen Technology. It is expected that this position through the year is Marcus Schaffer.
Localization of production of batteries is an important factor in the success of the strategy for the electrification of Mercedes-Benz, as well as a key element of flexible and effectively meet the needs of the global market of electric vehicles.
In its global production network of Mercedes-Benz focuses on the production of high performance battery systems and active network of factories for the production of batteries around the world in the future will create nine plants in seven locations on three continents.