- Gotion High-tech will invest about €1.6 billion across three manufacturing facilities in Spain, Slovakia and Morocco, with Volkswagen committing a similar amount, for a combined €3.22 billion outlay.
- The jointly owned plants target 37.5 GWh of annual lithium-ion battery capacity and 100,000 metric tons of cathode materials, capacity aimed at global EV battery demand.
- Gotion framed the signings as part of its overseas expansion strategy and a deepening of its long-term strategic partnership with Volkswagen.
Quotes
“in line with Gotion's overseas expansion strategy to consolidate our footprint in the global EV battery market while further deepening our long-term strategic partnership with Volkswagen”