Chinese battery manufacturer Gotion High-tech and Slovakian battery start-up InoBat have announced that they will jointly build a battery factory for electric vehicles in Europe with an initial capacity of 20 gigawatt-hours by 2026.
Partners are looking for a European factory site
Construction of the plant will begin in 2024. After full production starts in 2026, the output can then be gradually increased, said InoBat CEO Marian Bocek in an official statement. According to Bocek, the companies are in the process of locating a site for the plant, with several European countries under consideration.
Gotion is the most recent shareholder of InoBat
The announcement comes a little more than two weeks after the companies announced that Gotion would acquire a 25-percent stake in InoBat and provide supply chain and technology support to the start-up as it expands production of EV batteries. Gotion’s largest shareholder is Volkswagen, and the company has an “exclusive contract with VW to supply batteries for electric vehicles outside China,” according to InoBat and the Chinese battery maker.