Thu. Sep 28th, 2023
    Gotion-High Tech and InoBat Sign Agreement to Establish a Gigafactory in Europe

    Gotion-High Tech, a high-tech battery development company, and InoBat, an electric vehicle battery startup, have signed an agreement to establish a gigafactory in Europe. Gotion-High Tech, a Level 1 battery supplier to its major shareholder, Volkswagen Group, aims to provide batteries for electric vehicles to Volkswagen Group and other manufacturers through its partnership with InoBat.

    Based in China, Gotion-High Tech has been expanding its production to various regions worldwide. They recently expanded to Vietnam through a joint venture with VinES, the energy division of VinFast. Additionally, the company has launched its first European product, manufactured in Germany, and secured several contracts with customers in Europe.

    On September 1st, Gotion-High Tech acquired a 25% stake in InoBat, marking the first investment in a European startup by a Chinese battery manufacturer. The investment aims to accelerate InoBat’s technology towards mass production by providing raw materials and exchanging knowledge in R&D, cell production, and battery recycling.

    The joint venture between Gotion-High Tech and InoBat is expected to expand the production of electric vehicle batteries in Europe to support local automakers, including Volkswagen Group. The future gigafactory, named Gotion InoBat Battery (GIB), will have an initial capacity of 20 GWh and create numerous local jobs.

    Although the exact location of the gigafactory has not yet been determined, the partners are considering options in the Central Europe region. They are also seeking state support, both financial and in terms of permits, for the joint venture. Construction of the gigafactory is scheduled to begin in 2024, with full operation planned for 2026. The partners anticipate that the gigafactory could expand to nearly 250 acres and create thousands of additional jobs.

    The establishment of the gigafactory in Europe aligns with Volkswagen Group’s ownership of Gotion-High Tech and its efforts to localize battery production to reduce emissions and enhance competitiveness in the region.

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