Gotion-High Tech, a battery developer, and InoBat, an EV battery startup, have signed an agreement to establish a gigafactory in Europe. Gotion-High Tech, which is a Tier 1 battery supplier to its top shareholder, Volkswagen Group, aims to provide EV batteries to Volkswagen Group and other automakers through its partnership with InoBat.
Gotion-High Tech, based in China, has been expanding its production to various regions worldwide. They have recently expanded to Vietnam through a joint venture with VinES, the energy division of VinFast. In addition, the company has rolled out its first European product, manufactured in Germany, and secured several customer contracts in Europe.
On September 1, Gotion-High Tech acquired a 25% stake in InoBat, marking the first investment in a European startup by a Chinese battery maker. The investment aims to accelerate InoBat’s technology into mass production by providing raw materials and sharing R&D, cell production, and battery recycling knowledge.
The joint venture between Gotion-High Tech and InoBat is expected to expand EV battery production 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.
The exact location of the gigafactory has not been determined yet, but the partners are considering options in the Middle-European region. They are also seeking state support, both financially and in terms of permits, for the joint venture. The construction of the gigafactory is scheduled to start in 2024, with a full launch planned for 2026. The partners anticipate that the gigafactory can expand to nearly 250 acres and create thousands more 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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