TOGG chose Farasis, one of the world's leading Li-Ion battery manufacturers, as a business partner for the battery pack to be used in its product range.
According to the agreement tOGGer battery modules and packs will be produced in Turkey. The two companies, energy storage solutions for Turkey and surrounding countries within the framework of a comprehensive letter of intent signed besides supplying battery cells will expand its cooperation by providing a joint venture company under the roof.
TOGG chose Farasis, one of the world's leading Li-Ion battery manufacturers, as its business partner for the battery, which is one of the most basic components in the electric vehicle product range it is developing. IT Valley in the next TOGG Board members also attended by signing the comprehensive intentions in a statement after the letter was developed with Farasis battery module and pack production in Turkey, energy storage solutions for Turkey and surrounding countries will present a joint venture company under the roof also will choose a strategic partnership It was stated that it was evaluated meticulously.
TOGG Chairman Rifat Hisarcıklıoğlu said after the signature, “The joint venture company to be established with Farasis will also be an initiative to increase the efficiency of our country's energy system, reduce our country's dependency on foreign energy, and accelerate our development of a clean and efficient energy system. In this way, TOGG's mobility ecosystem will become an important regional player that develops technology and creates serious economic value ”.
TOGG CEO Gürcan Karakaş said in a statement regarding the agreement, “Since 2018, we have evaluated more than 30 global battery suppliers, including possible domestic collaborations, within the framework of non-disclosure agreements (NDA), out of which they best meet our technical, commercial and strategic criteria. "Farasis battery, one of the world's leading Li-Ion battery manufacturers, has been chosen as our business partner."
Karakaş continued his words as follows: “It is very important that Li-Ion battery technology, which is considered as one of the most important and basic technologies for electric vehicles today, will come to our country with an important player like Farasis. We have been expressing from the very beginning that TOGG will also trigger the technological transformation in our country while developing its zero-emission electric vehicles. This cooperation will go beyond the production of electric vehicle batteries, our country will develop the battery R & D competencies, electric vehicle project of automotive manufacturers will trigger the transit to Turkey, Farasis's range of products found to increase the energy storage business with non-automotive energy storage products and joint venture companies of its With the brand it will develop, it will produce a very important new economic value as the exclusive representative of Farasis in the region it is responsible for ”.
"TOGG is a pioneering initiative on Electric Vehicles"
The letter of intent signing ceremony attended by Farasis co-founder and CEO of online dr.y Wang pointed out that one of the most important automotive countries in the regions of Turkey "to develop electric vehicles using the advanced automotive accumulation in Turkey and work with the road going TOGG to produce joining in has been one of the natural steps we have taken in line with our basic strategies. TOGG at the right time, right place, doing the right job, to support the ambitious growth plans of our pioneering company in the battery we electrification for the next big we saw the market in a more ideal location from Turkey, tOGGer than an ideal partner düşünemezdik.gerek Turkey ' We signed this letter of intent to meet the needs that will arise and the demands from the region. "We are excited that this cooperation, which started with the supply of batteries, will turn into a long-term partnership."
Head of Farasis Europe Organization, Sebastian Wolf, who personally participated in the signing ceremony in the Informatics Valley and carried out the cooperation studies from the very beginning, said, “From the very beginning, we saw that both companies shared the same enthusiasm for electrifying the future of individual mobility. should we expect in Turkey as well as non-automotive market in the automotive Li-ion battery demand for a significant increase in the occurrence. Therefore, we are excited to partner with TOGG to establish the first electric vehicle battery manufacturing company in the region, ”he said.
Cell R&D will also be done
In the joint statement made by TOGG and Farasis after the signing ceremony, “According to the joint venture company intent letter, which includes the general principles of the strategic partnership signed at TOGG's management center in the Informatics Valley, the comprehensive business plan of the joint venture company will be created until the end of 2020 and this is the legal basis of the partnership. will be detailed during the period. In line with these studies, it is aimed to establish a joint venture company legally at the beginning of 2021 after the final evaluation of the board of directors of the two companies.
TOGG and Farasis be established between the targeted joint-venture company that came nativism one of the issues given the importance of the parties in the business plan is highlighted, business plan within the battery cells in the development and production of matters of detail shall be evaluated in Turkey, especially in the long term competence will be developed in the cell chemistry both It was underlined that it will make a great contribution to the side.
Hibya News Agency