Auto manufacturing giant Daimler plans to invest 0 million in Farasis IPO to produce batteries for use in electric cars. DAI stock is up today.Investment prospects for many companies are downtrending owing to the global financial distress that the world is plunging into during this COVID-19 pandemic era. However, auto giant corporation Daimler AG (ETR: DAI) stock is rising as the company plans to invest in Chinese battery maker Farasis Initial Public Offering (IPO) valued at 0 million. While investments of this nature are not uncommon in the auto world, the Daimler-proposed IPO investment will lend a great boost to the stability of the market capitalization of China’s NASDAQ-like STAR Board.Meanwhile, today Daimler (DAI) stock is trading at 32.34 EUR, which indicates a 1.46% rise.
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Auto manufacturing giant Daimler plans to invest $480 million in Farasis IPO to produce batteries for use in electric cars. DAI stock is up today.
Investment prospects for many companies are downtrending owing to the global financial distress that the world is plunging into during this COVID-19 pandemic era. However, auto giant corporation Daimler AG (ETR: DAI) stock is rising as the company plans to invest in Chinese battery maker Farasis Initial Public Offering (IPO) valued at $480 million. While investments of this nature are not uncommon in the auto world, the Daimler-proposed IPO investment will lend a great boost to the stability of the market capitalization of China’s NASDAQ-like STAR Board.
Meanwhile, today Daimler (DAI) stock is trading at 32.34 EUR, which indicates a 1.46% rise. However, the stock now is still far from the level that it had at teh beginning of the year. At that time, it was trading around 50 EUR.
Daimler Investment in Farasis IPO
Daimler AG is one of the world’s foremost automobile manufacturers. Based in Stuttgart, Germany, the company’s automobiles are quite ubiquitous and well known as a premium car brand. Daimler has a long history dating back to 1926 with the merger of Daimler Motoren Gesellschaft and Benz and Cie. The company since inception is known to invest in several automobile companies including but not limited to Smart Automobile, Mitsubishi Fuso and BAIC Motor. Daimler is an innovative entity that spares no cash in the integration of the latest technology to reposition itself as the leader in novel auto-technology. The company is a profitable entity recording revenue of EUR 172.7 billion as of 2019 while making a net profit of EUR 2.7 billion, with almost EUR 5 billion less than the previous year’s earnings due to huge investments in their future plans- switch to electric cars. As typical of the company, their plan to invest in Farasis’ IPO is in the drive to actualize the production of sustainable electric cars.
As sustainability is the key focus for development and industrial production worldwide, companies have to reinvent their systems and products to align with this global agenda especially in the reduction of carbon emissions by cars that run on fossil fuels. Daimler will be better positioned to invest in the Farasis IPO as the Ganzhou city-based company is known to produce nickel-cobalt-manganese batteries for electric vehicles. With this $480 million investment, and the total IPO funds raised, Farasis will ramp up the production of Lithium-ion batteries while also maintaining a sustainable working capital flow.
Beyond the challenges the world is battling now, the Daimler group’s investment in Farasis IPO will be a bigger win for the world as sustainability of the earth’s resources will be ensured.
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