The primary listed Chinese language battery producer, the primary accomplice of Volkswagen, with a market capitalization of greater than 10 billion USD

Just lately, VinFast introduced that it has signed a Memorandum of Understanding with Gotion Excessive-Tech (China) with a concentrate on the venture of supplying LFP batteries and learning the plan to construct a manufacturing facility to provide electrical head LFP cells in Vietnam.

Accordingly, Gotion Excessive-Tech (China) is a expertise firm working in lots of international locations, with a concentrate on creating and manufacturing power batteries. Based in 2006, Gotion grew to become the primary Chinese language battery producer listed on the inventory alternate in Might 2015.

Proudly owning 10 manufacturing services in China, Gotion has strengths in electrical car batteries, energy storage initiatives, energy transmission and distribution gear in addition to different new power fields. As well as, Gotion Excessive-Tech has arrange eight R&D facilities in China, USA, Japan, Singapore, Germany and India, with greater than 2,000 extremely specialised engineers and scientists and a pair of,797 patents within the fields. completely different areas.

Notably, simply final month, this firm additionally signed a cooperation settlement with Volkswagen Group with fairly related content material, when Gotion Excessive-Tech supported Volkswagen within the manufacturing of battery cells to optimize capability. , slicing battery manufacturing prices.

Gotion Excessive-Tech can also be aiming to construct two factories in Jiangxi province, southern China, to provide a complete of 100,000 tons of lithium carbonate per yr. Within the first section, it’s estimated that capability will attain 20,000 tons yearly at every website. It’s anticipated that the 2 factories will come into operation by the tip of 2022.

The corporate introduced that the factories shall be positioned in two separate industrial zones in Yichu metropolis. Within the second section of growth, Gotion Excessive-Tech goals to extend capability at every website by 10,000 tons, to 30,000 tons per website. Getting into the ultimate stage, this quantity is anticipated to succeed in a complete of 100,000 tons of lithium carbonate per yr.

Volkswagen China is the most important shareholder of Gotion Excessive-Tech with a 25% stake in a share buyback price about 1 billion euros in Might 2020. As well as, Gotion additionally desires to construct a manufacturing facility to provide high-nickel cathode supplies in Hefei (China). The plant will begin trial operation in 2023. In March 2021, Gotion additionally introduced the development of a battery recycling plant in Hefei.

  Portrait of a business that has just cooperated with VinFast: The first Chinese battery manufacturer to list, is a main partner of Volkswagen, with a market capitalization of more than 10 billion USD - Photo 1.

At present, Gotion’s market capitalization is at 66.716 billion yuan (about 10.27 billion USD). The corporate has a manufacturing capability of three.three GWh in China. Within the quick time period, Gotion plans to broaden to 13 GWh after which to 28 GWh.

By 2023, this shall be 80 GWh. In response to a current report by Gasgoo, Gotion Excessive-Tech additionally desires to provide battery cells for Volkswagen. The corresponding manufacturing facility may even be in-built Hefei on an space of ​​333,000 m .2 and is designed for an annual manufacturing capability of 20 GWh.

As deliberate in July, Volkswagen introduced that it could construct six large-scale battery factories in Europe by the tip of 2030, with Gotion Excessive-Tech as a accomplice for the Salzgitter manufacturing facility in Germany and in search of a location within the West. Spain for one more manufacturing facility.

Mr. Vu

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