Thu. Oct 5th, 2023
    InoBat and Gotion High-Tech to Establish Joint-Venture for Electric Vehicle Batteries Production

    InoBat, a Slovakian battery company, has announced its partnership with Gotion High-Tech to establish a joint-venture for the production of electric vehicle batteries. Gotion, a major battery supplier to Volkswagen, has signed a pre-joint-venture agreement with InoBat, with construction of the factory expected to begin in 2024 and full production anticipated by 2026.

    While the exact location for the factory has not yet been determined, InoBat emphasized the importance of strong support from the state and state institutions in the decision-making process. Factors such as the availability of critical infrastructure, construction permits, and competitive state aid will play a crucial role in determining the final location. InoBat believes that the successful establishment of the factory will create thousands of job opportunities and contribute to the growth of the electric vehicle industry in central Europe.

    The joint-venture aims to have an initial capacity of 20 gigawatts, reflecting the increasing demand for electric vehicle batteries. Gotion’s 25% stake in InoBat further strengthens the partnership and brings valuable expertise to the table.

    This collaboration between InoBat and Gotion High-Tech signifies a significant step towards the localization of electric vehicle battery production in central Europe. The joint-venture will not only enhance the region’s capabilities in the electric vehicle sector but also positively impact the economy through job creation and the establishment of critical infrastructure.

    – David Sachs. [Article Title]. [Article Source]