Gotion agreed to spend up to 2.51 billion euros to build the two battery cell plants. In Morocco, the Chinese group is planning a plant with a capacity of 20 GWh for 1.28 billion euros. In Slovakia, a production facility with a capacity of 20 GWh is also to be built in cooperation with InoBat for 1.23 billion euros.
Gotion High-Tech specialises in LFP and LMFP cells and has been on a growth path for some time, from which German car manufacturers could benefit: 25.6 per cent of Gotion shares are owned by Volkswagen. In recent years, the cell manufacturer has put numerous battery factories into operation or announced their construction – but so far mainly in China. Unlike CATL or BYD, the company is not one of the world’s largest manufacturers. However, the market research institute SNE Research puts Gotion in eighth place in the ranking of global EV battery manufacturers with a market share of 2.6 per cent after the first ten months of this year.
Gotion is now gaining a foothold in North Africa and Central Europe. In the summer, Gotion signed an investment agreement with the Moroccan government to build the factory. The 100 per cent Gotion subsidiary Gotion Power Morocco will take the lead. According to the CN EV Post, the plant is to be built in the Rabat region. The Moroccan state financial institution CDG Group is also on board. However, no information is yet available on the timetable.
In Slovakia, Gotion High-Tech is working closely with the local manufacturer InoBat. Their joint venture Gotion InoBat Batteries (GIB), in which the Chinese company holds 80 per cent and the Slovakian firm 20 per cent, also signed an investment agreement with the Slovakian government in the summer. According to an earlier company announcement by InoBat, the first expansion phase of the plant with an annual capacity of 20 GWh is scheduled to go into operation in Šurany in the south of Slovakia in 2026.
The parties involved see potential for later expansion at both factories. In Slovakia, the aim is to expand to 60 GWh per year at a later date. Morocco is even looking at 100 GWh.
cnevpost.com, chinadaily.com.cn
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Publish date : 2024-12-13 04:15:00
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