Leading international lithium-ion battery maker Farasis is opening up a major production facility for electric automobile batteries near Bitterfeld in the eastern German state of Saxony-Anhalt.
Via its new European subsidiary Farasis Energy Europe, the company will be investing more than €600 million. The facility is expected to create at least 600 new jobs for the region. According to plans, the plant’s production capacity will rise from an initial 6 to 10 gigawatt hours per annum as of late 2022.
“For the economy of Saxony-Anhalt, Farasis’ decision to locate and invest such a large amount of money here represents a particular triumph,” said Saxony-Anhalt Economy Minister Armin Willingmann.