InoBat & China's Gotion to Build EV Battery Gigafactory in Europe

InoBat has signed a pre-joint venture agreement with Gotion High-Tech to build a Gigafactory for the production of electric vehicle (EV) batteries in Europe. In the first development stage, the future Gotion InoBat Batteries gigafactory is expected to have a capacity of 20GWh.

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.

Gotion plans to develop Europe’s largest Agri-Solar power plant to supply its Gigafactory with green power.

Gotion has acquired a 25% strategic stake in InoBat AS.

It has an exclusive contract with Volkswagen to supply EV batteries outside of China.

VW also owns a 24.77% stake in Gotion, and is the company’s largest shareholder.

InoBat CEO, Marián Boček, says: “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.”

Steven Cai, Board member and CTO of Gotion, adds: “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.”

Slovakia-based InoBat specialises in research, development, design, manufacturing, supply and recycling of innovative electric batteries.