Gotion High-tech

China's lithium iron phosphate (LFP) battery installed base surpassed ternary batteries for the first time this year in July, and that lead widened in August.

Gotion's shares traded in Shanghai were up 3 percent in early trading on Monday.

The popularity of micro cars in China, including the Wuling Hongguang Mini EV, has been rewarding for one power battery supplier.

Gotion's Shenzhen-traded shares were up at the 10 percent intraday limit, after rising about 70 percent in the past two months.

EV battery maker Gotion Hi-Tech and solar module maker JinkoSolar Holding Co recently signed a strategic cooperation agreement to tap the solar energy storage market.

Chinese battery giant CATL ranked No. 1 in the global power battery market with a 29.9 percent market share in the first half of the year, according to SNE Research.

Gotion signed an agreement with Hefei Lujiang High-tech Zone on July 25 to build a 200,000 ton per year cathode material production base there, further expanding its business into the upstream sector.

The project is expected to cover 500 acres and will be built in phases. In the first phase, the company will build 10 GWh of battery capacity, with production scheduled to begin 18 months from the start of construction.

Gotion High-tech has signed a deal with the Robert Bosch GmbH to acquire the latter's plant in Göttingen, Germany, to gain its first new energy production operation in Europe.

Gotion will develop the first battery application with standard cells for VW's regular production models.