Shenzhen:002074

Gotion and InoBat sign MoU to develop Joint Venture EV Battery Cells and Packs

Retrieved on: 
Wednesday, February 8, 2023
Memorandum of understanding, ESS, EV, CEE, Kilowatt-hour, Joint venture, Renewable energy

HONG KONG, Feb 8, 2023 - (ACN Newswire) - On February 5, Gotion High-Tech, the innovative manufacturer of batteries and energy storage solutions in China, signed a Memorandum of Understanding (MoU) with InoBat, the European pioneering supplier of premium batteries for electric vehicles, to explore Joint Venture opportunities in revolutionizing EV battery and energy storage technologies, including co-development of a gigafactory with cell and pack production capacity of 40 GWh.

Key Points: 
  • HONG KONG, Feb 8, 2023 - (ACN Newswire) - On February 5, Gotion High-Tech, the innovative manufacturer of batteries and energy storage solutions in China, signed a Memorandum of Understanding (MoU) with InoBat, the European pioneering supplier of premium batteries for electric vehicles, to explore Joint Venture opportunities in revolutionizing EV battery and energy storage technologies, including co-development of a gigafactory with cell and pack production capacity of 40 GWh.
  • With technical superiority, complementary capabilities and a shared sustainability ethos, Gotion and InoBat will look at ways to work together on several key common topics of interest, such as:
    -- co-development of a JV gigafactory with cell and pack production capacity of 40 GWh to support EV applications, with the CEE region being one of the regions under consideration
    Through the cooperation following the MoU, InoBat benefit from Gotion's expertise in electric storage solutions ("ESS") whilst Gotion will benefit from InoBat's existing manufacturing sites and expansive market connections in Europe to facilitate Gotion's internationalization.
  • By working together in mutually beneficial areas, both companies aim to devise new and exciting technologies to accelerate the global charge towards a green energy future.

Establishment of Thailand's NV Gotion as Gotion plans to build battery export base in ASEAN countries

Retrieved on: 
Thursday, December 15, 2022
LTD, Carbon, PTE, Government, Marketing, PTT, Fortune 500, Research, Partnership, Renewable energy, ASEAN

The joint venture focuses on the design, development, manufacturing, sales and export of battery modules and pack products, and aims to explore the ASEAN new energy market and build a battery export base in ASEAN.

Key Points: 
  • The joint venture focuses on the design, development, manufacturing, sales and export of battery modules and pack products, and aims to explore the ASEAN new energy market and build a battery export base in ASEAN.
  • Ltd. of Gotion High-tech has entered into strategic cooperation with Nuovo Plus Co., LTD of Thailand-based PTT Group, and plans to establish Thailand NV Gotion Co., Ltd. ("NV Gotion") in the Eastern Economic Corridor of Thailand.
  • NV Gotion plans to build a lithium-ion power battery pack production line in the Eastern Economic Corridor of Thailand.
  • NV Gotion will actively explore new energy markets in the ASEAN member states while realizing local battery manufacturing and market development in Thailand.

Gotion High-tech's Revenue is 8.638 billion with overseas revenue growth of 358.28% in the first half of the year

Retrieved on: 
Friday, August 26, 2022
Kilowatt-hour, EV, RMB, Lithium, Research, Growth, Company, Time in China, Renewable energy

During the Reporting Period, the Company achieved revenue of RMB 8,638 million, representing a year-on-year growth of 143.24%, of which revenue from overseas regionsincreased by 358.28% year-on-year to RMB1.279 billion, and is expected to achieve its target of 100% growth in total revenue over the previous year in the future.

Key Points: 
  • During the Reporting Period, the Company achieved revenue of RMB 8,638 million, representing a year-on-year growth of 143.24%, of which revenue from overseas regionsincreased by 358.28% year-on-year to RMB1.279 billion, and is expected to achieve its target of 100% growth in total revenue over the previous year in the future.
  • Gotion High-tech is a leading power battery company in the field of new energy vehicles in China.
  • Gotion High-tech generated revenue mainly from power lithium battery, energy storage battery and power transmission and distribution equipment.
  • During the Reporting Period, company power lithium battery business maintained a solid growth trend, and achieved revenue of RMB 6.61 billion , representing a year-on-year increase of 113.93%, and was the company's biggest source of revenue.