Mercedes-Benz transforms, plans to invest 900 million yuan into Funeng Technology

Mercedes-Benz transforms, plans to invest 900 million yuan into Funeng Technology
After Volkswagen entered Guoxuan Hi-Tech and became the largest shareholder of the latter, Mercedes-Benz also announced its latest investment in the field of power batteries in China.
On July 3, Mercedes-Benz announced that it has deepened its strategic cooperation with Funeng Technology (Ganzhou) Co., Ltd. (hereinafter referred to as Funeng Technology), a manufacturer of power battery cells in China, and is on the road to carbon-neutral mobility. An important step.
It is reported that through this strategic partnership, Mercedes-Benz will invest tens of millions of euros to participate in Funeng Technology’s initial public offering, thereby holding approximately 3% of Funeng Technology’s shares. According to figures, the total investment of Daimler Greater China Investment Co., Ltd. is expected to be 904.5 million yuan. This shareholding still needs to wait for regulatory approval.
It is understood that Funeng Technology (Ganzhou) Co., Ltd. is a Chinese lithium battery technology R&D enterprise and supplier. It currently has more than 3,500 employees worldwide, and has R&D centers in China, Germany and the United States, as well as in Ganzhou and Zhenjiang. Two production bases.
The key content of the agreement between the two parties includes the development and industrialization of high-tech battery cell technology, and vigorously improving cost competitiveness. The technical focus includes increasing energy density and shortening charging time to achieve a substantial increase in driving range. Under certain technical and commercial conditions, Funeng Technology, as a supplier, can participate in the next generation of Mercedes-Benz EQ products as soon as possible. As a strategic partner, Funeng Technology will become one of the fixed core members of Mercedes-Benz’s existing battery cell suppliers.
This agreement will guarantee the supply of power battery cells for Mercedes-Benz in the process of electrification strategy, and Funeng Technology can ensure its planned capacity construction. Funeng Technology will also build a power battery cell factory in Bitterfeld-Wolfen in eastern Germany. The plant will create as many as 2,000 new jobs, and since the beginning of its establishment, it will be designed as a carbon neutral plant.
According to reports, Daimler will nominate a representative in the Supervisory Board of Funeng Technology.
Hubertus Troska, a member of the board of directors of Daimler AG and in charge of the Greater China business, said: “By making the first shareholding in a Chinese power battery cell manufacturer, we will further tap the potential of cooperation with Chinese high-tech partners to support us Promote the electrification strategy on a global scale. In the future, we will further strengthen local R&D, production and procurement in China.”
The localization of power battery production is an important factor for the success of Mercedes-Benz AG’s electrification strategy, and it is also a key element for flexibly and efficiently meeting the global demand for electric vehicles. In its global production network, Mercedes-Benz focuses on the production of energy-efficient battery systems and is actively deploying power battery production networks around the world-in the future, this will include nine factories on three continents and seven locations.
The battery cell is the core of the power battery, so it is very important to control the chemistry of the battery cell. In the summer of 2019, Mercedes-Benz has reached a partnership with Funeng Technology in the field of sustainable development. The first report card handed over by both parties is the use of water, wind, and solar energy to produce power battery cells.
As part of the “electricity first” strategy, Mercedes-Benz is promoting the electrification of all models.
At present, Mercedes-Benz EQC pure electric SUV, three smart EQ models and EQV 300 have successively met with consumers, and the new generation of pure electric models and the sustainable luxury EQS will also be launched soon.
By the end of 2020, Mercedes-Benz’s goal is to put 5 pure electric passenger car products and 20 plug-in hybrid models on the market. The plug-in hybrid product lineup will include various models ranging from A-class to S-class sedans, and from GLA SUV to GLE SUV, with a pure electric driving range of up to 100 kilometers.
By 2030, Mercedes-Benz is committed to achieving sales of plug-in hybrid and pure electric vehicles accounting for more than 50% of passenger car sales.
Some industry analysts believe that although Funeng Technology currently ranks seventh in the domestic power battery field, with the help of future orders from Mercedes-Benz and the upcoming launch of the Science and Technology Board, it is very likely to become the largest domestic battery manufacturer Ningde The biggest competitor of the future.