A Mercedes EQE that exploded in an underground parking lot in Incheon last week is confirmed to have been topped with batteries made by China’s Farasis Energy.
“The batteries are from Farasis Energy based on the report that Mercedes-Benz Korea submitted to us,” a spokesperson for the Ministry of Land, Infrastructure and Transport told the Korea JoongAng Daily on Monday.
The exact model and production date of the vehicle that exploded have not been disclosed.
The Ganzhou-based Farasis Energy is one of two battery firms that supply high-performing nickel cobalt manganese (NCM) batteries to Mercedes for its EQE sedans. The Ningde-based Contemporary Amperex Technology also produces batteries for the vehicles.
Farasis Energy, established in 2009, is the world’s eighth-largest battery maker, claiming 2.4 percent of the market this year through May, according to data from SNE Research. Its battery shipments totaled 2.2 gigawatt-hours during the period, up 139 percent on year.
Daimler, the parent company of Mercedes-Benz, inked a 10-year supply deal with Farasis in 2018 to source a total of 149 gigawatt-hours of batteries.
Mercedes acquired 3 percent of Farasis in 2020, in a deal reportedly valued at up to 900 million yuan ($126 million), to jointly develop batteries for pure EVs and hybrid cars.
China’s BAIC Group recalled around 32,000 models of two different EVs equipped with Farasis batteries in 2021 citing battery defects.
The blaze, which broke out in the underground parking lot of an apartment complex in Incheon, started after a few seconds after a parked Mercedes EV showed smoke.
The fire caused 23 injuries and burned or damaged a total of 140 cars.
Nearly 500 households were displaced following electricity and water outages that have now lasted for five straight days.
BY SARAH CHEA [chea.sarah@joongang.co.kr]
