[SMM Flash] Gotion to Invest €1.1 Billion in Volkswagen’s Valencia Battery Plant

Published: Sep 30, 2026 17:16 (GMT+8)

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China’s Gotion High-Tech will invest approximately €1.1 billion ($1.25 billion) in Volkswagen’s battery plant in Valencia, Spain, taking a 49% stake in the facility. The plant is expected to serve as a European production hub for lithium iron phosphate (LFP) batteries. As part of the broader cooperation, Volkswagen’s battery unit PowerCo will also invest €470 million in Gotion’s battery cell plant in Slovakia and cathode material facility in Morocco, taking a 49% stake in each project. Volkswagen currently holds around 24% of Gotion High-Tech. Reuters

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