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Gotion High-Tech and InoBat to build gigafactory for the production of batteries

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Construction of the factory is expected to begin in 2024. The future gigafactory should cover an area of more than 100 hectares and create thousands of jobs, with full launch expected by 2026.

InoBat CEO Marián Boček explains that their joint venture to build a gigafactory is a great opportunity that Europe should take advantage of. Currently, the partners are facing a final decision, within which they are also considering multiple options in the region. One of the key factors for the investment decision is a strong support from the state and state institutions in building critical infrastructure, construction permits and providing competitive state aid.

“Europe has great potential, strategic location and a long tradition in the automotive industry, InoBat has proven that in a relatively short time it can choose a suitable location, successfully manage the permitting process and complete the construction of such an extremely complex technology as a battery factory. Our R&D centre and pilot line in Voderady are progressing and the technology is already working there.”

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Marián Boček also explains that the plan to build a gigafactory starting with 20GWh in the first stage creates also a potential for further development. Gotion High-Tech even plans to develop Europe’s largest Agri-Solar power plant to supply its giga factory with green power as part of this investment program.

“We are pleased to have a strong and experienced partner in the form of Gotion High-Tech. Thanks to such steps and partnerships, Slovakia has the opportunity to fight for the location of the factory and thus be competitive in the field of electromobility. The partnership with Gotion High-Tech is therefore of very strategic importance to us in several areas. An important element in building this strategic project is close cooperation with the state and its institutions.”

Steven Cai, Board member and CTO of Gotion adds that InoBat has convinced them, among other things, with its strong know-how in research and development of their own batteries.

“This gigafactory is to meet the localization demand from our European customers currently supplied out of China as well as our new customer nominations in Europe soon to be announced.”

Two weeks ago, Gotion High-Tech announced the acquisition of a 25% strategic stake in InoBat AS. Gotion High-Tech has an exclusive contract with Volkswagen to supply EV batteries outside of China. VW also owns a 24.77% stake in Gotion High-Tech and is the company’s largest shareholder.

The collaboration between Gotion High-Tech and InoBat opens up new opportunities for innovation in the battery industry. The two companies share a common vision of tackling the climate crisis and securing a sustainable future for the planet for future generations.

The advantage of combining InoBat with Gotion in Gotion InoBat Batteries is that they bring experience in the development, production and recycling of batteries to customers in Central and Eastern Europe. Localizing battery production and reducing the need for long-distance transport will contribute to reducing emissions and strengthen the region’s competitiveness.

 

Source: InoBat

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