Gotion and InoBat will explore building a 40 GWh cell and Pack facility in Europe and explore producing energy storage batteries based on the latter's existing facility in Slovakia.
(InoBat founder and CEO Marian Bocek (left) and Gotion senior vice president Cai Yi (right) sign the agreement. Tara Lindstedt (center), InoBat board member and chief development officer, witnessed the signing. Image credit: Gotion)
Gotion High-tech is exploring the construction of a new battery facility with an overseas battery manufacturer in Europe, where the Chinese power battery giant already has a plant in Germany.
Gotion signed a memorandum of understanding with European battery maker InoBat on February 5 to explore partnership opportunities including a joint venture to build 40 GWh of capacity in Europe, it said in a press release today.
Gotion and InoBat will explore cooperation in several areas, including manufacturing, technology development, according to the release.
In the area of cell manufacturing, the two companies will explore building a 40 GWh cell and Pack factory under a joint venture.
In technology cooperation, the two companies will cooperate based on their respective accumulation in the field of lithium iron phosphate and ternary batteries.
In the energy storage sector, the two companies will explore the potential of energy storage battery production based on InoBat's existing plant in Slovakia to develop the European market as soon as possible, Gotion said.
The two companies also aim to establish technical and commercial cooperation in facility operations and to explore the feasibility of recycling production waste and end-of-life batteries.
InoBat is a battery manufacturer engaged in pioneering battery development, manufacturing, and recycling for universal and customized solutions for passenger cars, commercial vehicles, motorsports and aerospace equipment.
The company aims to manufacture batteries in a circular manner and is supported by strategic investors and partners including Rio Tinto, Amara Raja Group of India, Ideanomics of the US, International Finance Corporation, and IPM Group.
InoBat's circular approach to manufacturing electric vehicle batteries, whereby all materials used in the batteries are constantly recycled and made into new batteries when they are used up, coincides with Gotion's mission, the Chinese battery maker said.
The partnership will accelerate Gotion's goal of having 100 GWh of battery capacity overseas by 2025, fueling the company's internationalization, the company said.
Gotion, one of the world's largest power battery makers, ranked eighth with a 2.5 percent global share in November 2022, according to data released on January 4 by South Korean market research firm SNE Research. December data is not yet available.
In China, Gotion ranked fifth with a 3.63 percent share with 1.31 GWh installed in December, according to data released last month by the China Automotive Battery Innovation Alliance (CABIA).
On June 28, 2022, Gotion announced plans to build a 20 GWh annual capacity production site in Germany.
By 2025, Gotion's global production capacity is planned to reach 300 GWh, including 100 GWh of overseas capacity, Gotion Chairman Li Zhen said at the time.