Gotion High-tech (SHE: 002074) has recently announced its ambitious plans to establish two new battery factories in Slovakia and Morocco, with a combined investment of 2.514 billion euros ($2.6 billion). These facilities will have an annual capacity of 20 GWh each, marking a significant step towards the company’s goal of expanding its international footprint.
The Slovakian project, with a total investment not exceeding 1.234 billion euros, will be operated by Gotion InoBat Batteries (GIB) EnergyX Slovakia. This joint venture, with an 80% stake held by Gotion and 20% by local battery company InoBat Auto jsa, aims to cater to the growing demand for lithium batteries in the European market. The plant, located in Surany, Slovakia, is expected to be completed in phases over the next three years, focusing on the local production of power batteries.
In a bid to support the development of the Slovakian plant, the Slovak government has approved 214 million euros in state aid to GIB, comprising subsidies and tax breaks. The plant is projected to commence production in January 2027 and reach full capacity by June of the same year.
On the other hand, the Moroccan battery plant, with a planned investment not exceeding 1.28 billion euros, will be operated solely by Gotion Power Morocco. Situated in the Rabat region of Morocco, this facility has garnered support from the Moroccan government and a local investment institution, CDG Group. CDG Group has pledged to invest 300 million euros in the initial phase of the project, thereby solidifying Gotion’s presence in the region.
Gotion, renowned as one of the world’s largest EV battery manufacturers, has consistently secured its position in the market. With a 2.6% global market share from January to October and a 5.29% share in China in November, the company continues to make significant strides in the EV battery industry.
As Gotion embarks on its journey to establish cutting-edge battery production facilities in Slovakia and Morocco, the company is poised to further strengthen its position as a leading player in the global EV market. With a strong focus on innovation and sustainability, Gotion is set to revolutionize the EV battery industry and drive the transition towards a cleaner, greener future.
