Farasis Energy

About Farasis Energy

Farasis Energy operates as a developer and producer of high-performance lithium-ion battery technology, with a focus on pouch cells for electric mobility and other power storage applications. The company was established in 2002 in Silicon Valley, California, by Dr. Yu Wang and Dr. Keith Kepler, who began their research and development into lithium-ion battery products in 1997. Due to prohibitive manufacturing costs in the US, the firm shifted its operations, founding a research, development, and manufacturing facility in Ganzhou, China, in 2009.

The company's business model is centered on the research, development, manufacturing, and sale of lithium-ion batteries, primarily serving business-to-business (B2B) clients in the energy technology market. Revenue is generated from three main segments: electric vehicle (EV) batteries, energy storage systems, and battery management systems. The majority of its revenue comes from supplying power batteries to major automotive original equipment manufacturers (OEMs) like Mercedes-Benz, Geely, and GAC Group. Farasis serves a global client base, including partners in the automotive, commercial vehicle, aerospace, marine, and powersports industries.

Farasis Energy offers a portfolio of products including individual lithium-ion pouch cells, integrated modules, and complete battery packs. A key offering is the Super Pouch Solution (SPS), which integrates large-format pouch cells, an integrated battery system, and advanced manufacturing processes. This system is designed to provide high energy density, exceeding 220Wh/kg, which can enable a driving range of over 1,000 km. The company has also developed the world's first sodium-ion power battery for EVs and solutions for electric vertical take-off and landing (eVTOL) aircraft.

Key milestones for the company include entering the Chinese automotive market in 2016, establishing a strategic partnership with Daimler (now Mercedes-Benz) in 2018, and launching its initial public offering on the Shanghai Stock Exchange in 2020. In 2021, Farasis formed a 50:50 joint venture named Siro with Turkish EV manufacturer Togg to develop and produce batteries, establishing a manufacturing plant in Gemlik, Turkey, which began production in March 2023. The company operates R&D centers in China, Germany, and the United States, with manufacturing facilities in China and Turkey, and plans to increase its total production capacity significantly by 2031.