Farasis and Togg Sign Letter Of Intent To Develop Energy Storage Solutions For Turkey And Surrounding Countries

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  • They will also team up for development and production of battery modules and packs by the two in Turkey through a strategic venture
  • This will combine Farasis technology with Turkey’s automotive industry leadership to bring e-mobility solutions to new markets in the region

partnershipTogg has selected Farasis as its business partner for the development and supply of Li-ion batteries, which are one of the most fundamental components of the electric vehicles they are developing. After a signing ceremony held in Turkey’s IT Valley and attended by the CEO and Board Members of each company, they announced that the two companies came to an agreement to supply Farasis batteries to Togg and entry into the Turkish market.

Togg CEO Gürcan Karakaş said the following about the agreement, “Since 2018, more than 30 global battery suppliers have been evaluated within the framework of confidentiality agreements (NDAs), including possible domestic collaborations. Among them, the company that best met our technical, commercial and strategic criteria, and one of the world’s leading Li-Ion battery manufacturers, Farasis, has been chosen as our business partner”.

E-mobility solutions to new markets in the region

They will also team up for development and production of battery modules and packs by the two in Turkey through a strategic venture. This will combine Farasis technology with Turkey’s automotive industry leadership to bring e-mobility solutions to new markets in the region.

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Karakaş added ,”It is very critical that Li-ion battery technology, which is considered to be one of the most important and fundamental technologies for electric vehicles today, comes to our country with an important player like Farasis. This cooperation will go beyond producing electric vehicle batteries in Turkey, but also improve battery R&D competencies in our country, trigger the automotive manufacturers to bring their electric vehicle projects to our country, and to enhance the energy storage business with non-automotive energy storage products in Farasis’ product portfolio.

He further said,”The new joint-venture will represent a very important new economic value as the exclusive representative of Farasis in the region. We have been expressing from the beginning that Togg will be one of the examples that will trigger the technological transformation in our country while developing zero-emission electric vehicles.”

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