By Jessica Sier

Daimler AG said Friday that its premium brand Mercedes-Benz has taken an equity stake in Chinese battery cell manufacturer Farasis Energy (Ganzhou) Co.

The German car manufacturer said the stake is part of a broader partnership focusing on the energy density of advanced cell technologies and reducing charging times.

Farasis is also building a carbon-neutral battery cell plant in Bitterfeld-Wolfen, in east Germany, which will create up to 2,000 jobs.

No financial details were disclosed.

Write to Jessica Sier at jessica.sier@wsj.com

(END) Dow Jones Newswires

July 03, 2020 01:31 ET (05:31 GMT)