[Gotion, Volkswagen to invest €3.22bn in three JVs]

Published: Sep 29, 2026 09:27 (GMT+8)

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,Sept 28 ,Gotion High-tech announced that it and its wholly owned subsidiaries plan to sign an Investment Agreement with Volkswagen AG and its wholly owned subsidiaries to establish three joint ventures in Valencia, Spain; Šurany, Slovakia; and Kenitra, Morocco. The total project investment is expected to be about €3.222 billion, with Gotion investing about €1.598 billion in total.

The Valencia JV will build a 29.1 GWh lithium battery project with total investment of about €2.262 billion, with Gotion holding 49%. The Šurany JV will build an 8.4 GWh lithium battery project with total investment of about €480 million, with Gotion holding 51% and control. The Morocco JV will build a 100,000-tonne lithium iron phosphate cathode material project with total investment of about €480 million, with Gotion holding 51% and control.

The investment constitutes a related-party transaction and still requires approval from the shareholders’ meeting and domestic and overseas government authorities.

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