Gotion High-Tech Responds to U.S. Department of Defense Ban on Purchasing Batteries from Six Chinese Companies: No Impact on the Company

Published: Jan 30, 2024 17:57

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“No impact on the company." From Gotion High-Tech in response to the new restriction posed by the US congress.

In response to the news that the U.S. Department of Defense is prohibited from purchasing batteries from six Chinese companies, Gotion High-Tech stated: The ban mainly targets the core battery supply of the U.S. Department of Defense, imposing restrictions on the procurement of batteries for military purposes by the Department, and does not affect civilian commercial cooperation. The company has not supplied to the U.S. Department of Defense and has no plans for such cooperation, therefore, there is no impact on the company. According to a report by Global Times on January 21, the U.S. Congress has prohibited the U.S. Department of Defense from purchasing batteries produced by six Chinese companies, including CATL and BYD. This regulation will take effect in October 2027 and is part of the National Defense Authorization Act for Fiscal Year 2024 passed at the end of last year. According to the provisions of the said act, besides CATL and BYD, Envision Energy, EVE Energy, Gotion High-Tech, and Sunwoda Electronic are also on the list.

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