In a groundbreaking move for the electric vehicle (EV) industry, InoBat, a prominent player in advanced battery technology, has inked a pre-joint venture agreement with Gotion High-Tech to construct a colossal Gigafactory dedicated to EV battery production in Europe. This monumental endeavor marks a pivotal step towards bolstering the continent’s green mobility transition. In its inaugural phase, the envisaged Gotion InoBat Batteries Gigafactory is set to boast an impressive capacity of 20 gigawatt-hours (GWh), poised to significantly amplify Europe’s EV battery production capabilities.
Scheduled to break ground in 2024, the construction of this state-of-the-art factory is poised to be a pivotal moment for the burgeoning EV market. The ambitious project is set to unfold across an expansive area spanning more than 100 hectares, underscoring the immense scale of this venture. Beyond its substantial manufacturing capacity, the Gotion InoBat Batteries Gigafactory is poised to become a prolific generator of employment opportunities, with thousands of jobs slated to be created, thereby infusing economic vitality into the region. As it approaches full operational capacity, with a target year of 2026, the factory is expected to become a key driver of economic growth.
One of the standout features of Gotion’s strategic plan for the Gigafactory is the development of Europe’s largest Agri-Solar power plant. This forward-thinking approach underscores the commitment to green and sustainable energy sources. By harnessing solar power from this immense plant, the factory aims to substantially reduce its carbon footprint, aligning with the broader sustainability goals of the EV industry.
Notably, Gotion has solidified its commitment to InoBat by acquiring a substantial 25% strategic stake in InoBat AS. This strategic partnership underscores Gotion’s confidence in InoBat’s capabilities and represents a significant step towards realizing their shared vision of revolutionizing EV battery manufacturing in Europe.
Furthermore, Gotion has secured an exclusive contract with Volkswagen (VW), a global automotive giant, to supply EV batteries outside of China. This partnership is pivotal in establishing Gotion as a major player in the EV battery market. VW’s considerable stake in Gotion, amounting to 24.77%, further cements the bond between these industry leaders. With VW’s backing and strategic alignment, Gotion is well-positioned to take the European EV market by storm.
Marián Boček, the CEO of InoBat, expressed his optimism about the venture, emphasizing Europe’s strategic location and rich automotive heritage. Boček also highlighted InoBat’s successful track record in managing the complex process of building battery factories. He noted that the company’s R&D center and pilot line in Voderady are already making strides, with the technology in operation, showcasing InoBat’s readiness to spearhead this ambitious project.
Steven Cai, a Board member and the CTO of Gotion, shed light on the factory’s purpose, emphasizing its role in meeting localization demands from European customers currently supplied from China. Cai also teased forthcoming announcements of new customer nominations in Europe, hinting at Gotion’s intentions to make a significant mark on the European EV market.
