InoBat and Gotion High-Tech Plan Joint-Venture for Electric Vehicle Batteries
- Wednesday, October 16, 2024
In a significant development, InoBat, an unlisted Slovakian battery firm, has announced a pre-joint-venture agreement with Gotion High-Tech, a major battery supplier to Volkswagen. The partnership aims to establish a factory in central Europe for the production of electric vehicle batteries. While financial details have not been disclosed, both companies are optimistic about the prospects of this collaboration.
The construction of the factory is scheduled to commence in 2024, with full-scale production projected to begin in 2026. Although the precise location is yet to be determined, InoBat emphasizes that strong support from the state and state institutions will be crucial in terms of building critical infrastructure, obtaining construction permits, and receiving competitive state aid.
Anticipated to have an initial capacity of 20 gigawatts, the plant will not only significantly contribute to the region's manufacturing capabilities but also generate employment opportunities on a large scale.
It's worth noting that Gotion High-Tech currently holds a 25% stake in InoBat, further strengthening their collaboration in the electric vehicle battery sector.
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