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Farasis Energy has announced the receipt of a "Designation for Exclusive Development" for select vehicle components from GAC Group. Pursuant to this designation, Farasis Energy has been chosen by GAC Group to develop and supply battery pack assemblies. The project leverages lithium iron phosphate power batteries, engineered around the innovative SPS super soft pack technology. This development signifies a strengthening of the strategic alliance between the two entities. It is important to clarify, however, that this designation is not a supply agreement, and there exist potential uncertainties pertaining to project progress, sales outcomes, and the attainment of final purchase orders. Consequently, the impact on Farasis Energy's operating performance for the current fiscal year remains unconfirmed.
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