Gotion Hi-Tech announced on February 7 that it has signed a memorandum of understanding with InoBat to co-develop a battery plant. Together, both parties also plan to cooperate in areas such as product R&D and manufacturing processes. InoBat is a European battery manufacturer.
According to the memorandum, both parties will consider establishing a joint venture. The new entity, in turn, will set up a plant with an annual production capacity of 40GWh for EV power battery cells and packs. Furthermore, both parties will engage in technological collaborations based on their respective advantages in LFP and ternary batteries. Besides EV power batteries, both parties also consider joining forces in the market for ESS batteries. Gotion is interested in setting up production capacity for ESS batteries at InoBat’s existing manufacturing sites in Slovakia. This will allow Gotion to accelerate its penetration into the wider European market.
Additionally, both parties will be looking into opportunities for technological and commercial partnerships when it comes to facilities. Lastly, the memorandum mentions cooperation in the realization of a recycling scheme for production scraps and decommissioned batteries.
InoBat’s strategy is to develop an innovative, “cradle-to-cradle” (or circular) approach for energy storage solutions. Therefore, its businesses encompasses R&D, manufacturing, and recycling. In terms of offerings, InoBat has products for passenger vehicles, commercial vehicles, vehicles used in motorsports, and aerospace systems. The company applies the concept of green manufacturing to its products. Strategic investors in InoBat include Rio Tinto Amara Raja, Ideanomics, IFC, and IPM Group. Moreover, InoBat has been for approved for grant financing under the EU’s partnership program “Important Projects for Common European Interest (IPCEI).
Steven Cai, who serves at Gotion as CTO and president of the company’s General Research Institute of Engineering, said forming a tie with InoBat will likely lead to wide-ranging cooperation with respect to innovations in battery technologies, localization of battery production in Europe, and battery recycling solutions. This MoU therefore represents a win for both parties as they work to capture mutually beneficial opportunities in the future. Furthermore, the partnership with InoBat will speed up Gotion’s efforts to reach the goal of setting up an annual production capacity of 100GWh outside China by 2025. All in all, Gotion’s businesses will become more internationalized as a result.
This article is a translation of a Chinese article posted by TrendForce. It contains information that is either sourced from other news outlets or accessible in the public domain. Some Chinese names are transcribed into English using Hanyu Pinyin.
Image Source: Gotion Hi-Tech