Daimler AG plans to invest in Farasis Energy's planned $480 million IPO, aiming to ensure a stable supply of batteries from the Chinese firm as it ramps up electric vehicle production, three people familiar with the matter said.
) plans to invest in Farasis Energy’s planned $480 million IPO, aiming to ensure a stable supply of batteries from the Chinese firm as it ramps up electric vehicle production, three people familiar with the matter said.
The plan has yet to be finalised and is subject to change, the people said, speaking on condition of anonymity as the discussions were private. The size of the potential investment was not immediately clear, they added.
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