Farasis Energy Elects Daimler Management Board Member Markus Schäfer to the Supervisory Board

Written by Newsfile

Frickenhausen, Germany--(Newsfile Corp. - July 23, 2021) - In July 2020, Mercedes-Benz and Farasis Energy officially announced their strategic partnership. In July 2021, the Shareholders of Farasis Energy (SZSE: 688567) elected Markus Schäfer, Member of the Management Board of Daimler AG as well as Mercedes-Benz AG, as a member of the Supervisory Board in its official meeting. Farasis Energy and Daimler are thus taking another important step in their strategic partnership.

The automotive group Daimler acquired shares of around 3 percent in Farasis Energy last year. Linked to the investment, which took place in 2020 as part of Farasis Energy's IPO, was the opportunity to nominate a representative for a seat on the battery cell manufacturer's Supervisory Board. Markus Schäfer, member of the Management Board of Daimler AG and Mercedes-Benz AG; responsible for Daimler Group Research and Mercedes-Benz Cars COO, intended to take over the position after a period of twelve months. Now the Shareholders Farasis Energy have elected him as an official member of the Supervisory Board.

"Our partnership with Daimler, which will become even closer with the appointment of Markus Schäfer to the Supervisory Board, is not only of outstanding strategic importance for Farasis, but also a milestone on our joint path to a more sustainable world through CO₂-neutral mobility," explains Dr. Yu Wang, the Chairman of Farasis Energy.

Dr. Keith Kepler, CTO and co-founder of Farasis Energy, adds, "The election of Markus Schäfer as a member of the Supervisory Board is of great importance for Farasis Energy Europe and USA. This step strengthens the partnership between Farasis and Daimler for sustainable and advanced battery cell technologies. And at the same time, it confirms us in our corporate and expansion strategy, which is always closely aligned with our customers - in a challenging, dynamic market."

About Farasis Energy

Farasis Energy is a developer and producer of lithium-ion battery technology for electric mobility and other power storage applications. Founded in California in 2002, the company currently employs more than 4,000 people worldwide and operates research and development centers in China, Germany and the USA. There are currently two production sites in Ganzhou and Zhenjiang (China). Further global production sites, also outside China, are in preparation. The European subsidiary Farasis Energy Europe GmbH is based in Frickenhausen near Stuttgart.

Press contact

Press office Farasis Energy EuropeMaren Henke+ 49 7022 / 789 4411press@farasis.com ^[1]

Markus Schaefer (Daimler) and Dr. Yu Wang (Farasis) shake hands in 2019. Copyright: Daimler AGFrom left to right: Markus Schaefer, Member of the Management Board of Daimler AG and Mercedes-Benz AG; responsible for Daimler Group Research and Mercedes-Benz Cars COO and Dr. Yu Wang, Chairman of Farasis Energy. The picture was taken in 2019.

To view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/8197/91108_14eb7dd27dca26346915678478ee.jpg ^[3]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91108 ^[4]

References

^{^} press@farasis.com (www.newsfilecorp.com)
^{^} markus-schaefer-daimler-and-dr-yu.jpg (www.newsfilecorp.com)
^{^} https://orders.newsfilecorp.com/files/8197/91108_14eb7dd27dca26346915678478ee.jpg (orders.newsfilecorp.com)
^{^} https://www.newsfilecorp.com/release/91108 (www.newsfilecorp.com)