Daimler to buy 3% stake in Energy Technologies, which will build a battery production plant in Germany

July 3 (Xinhua) — Daimler AG, the parent company of Mercedes-Benz, said on Friday it would deepen its strategic partnership with Finan Technologies and would acquire a 3 percent stake in the company,media reported. Daimler said it would build a battery production plant in Germany and that Daimler Greater China would invest millions of euros in its public offering.

Daimler to buy 3% stake in Energy Technologies, which will build a battery production plant in Germany

Photo from Daimler’s official website

Daimler said it could choose to nominate a representative to the supervisory board of Theon Technology.

According to the prospectus, The Company plans to use the proceeds of the IPO to expand the production capacity of lithium batteries.

Since its inception, Canon Technology has been focusing on the new energy vehicle lithium-ion battery and vehicle battery system research and development, production and sales, and for new energy vehicle vehicle enterprises to provide a total solution of power battery.

By the end of 2019, Finenergy Technologies has provided products and services for more than 125,000 new energy vehicles.