The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Electrical Equipment 27.20 - Manufacture of batteries and accumulators
250 jobs Number of planned job creations
Announcement Date
18 December 2017
Employment effect (start)
1 January 2018
Foreseen end date
31 December 2021
Description
Forsee Power, the specialist in smart battery systems for urban mobility, has announced a financing of €55 million to support the industrialisation of its battery systems. Consequently, the Group will hire 250 people in France by the end of 2021.This financing was granted by Mitsui & Co. Ltd and the European Investment Bank (EIB) via the European Fund for Strategic Investments (EFSI) and Idinvest. This funding will allow Forsee Power to increase by ten times its production capacity and start mass production of smart battery systems in Europe and China, particularly for the electromobility markets (bus, train, truck, boat, scooter).
According to company's sources, 'Forsee Power has the most complete range of batteries on the transport markets and it 'is very well positioned for the future; it has already signed major battery supply contracts with renowned scooter manufacturers as well as bus manufacturers, including CNHI (Heuliez), CaetanoBus in Portugal and Wrightbus in the United Kingdom. In addition, the Group is taking strong positions in the industrial vehicles and railway markets'.
Sources
18 December 2017: Forsee Power (Press release)
18 December 2017: Le Figaro
Citation
Eurofound (2017), Forsee Power, Business expansion in France, factsheet number 92871, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/92871.
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