China-based battery makers have been accelerating expansion in Europe as global competition goes tense. China-based Gotion High-tech recently partnered with Slovakia-based battery company InoBat. The pair is exploring opportunities to set up a battery plant in the central and eastern Europe region.
Gotion and InoBat signed a Memorandum of Understanding on February 5 with the goal of establishing a joint venture. According to an announcement about the MoU, the two companies aim to build a gigafactory to make EV battery cells and packs. The production target is 40Gwh. The CEE region is one of the regions under consideration for the plant.
The duo also said their cooperation will be based on their respective advantages in LFP and NMC batteries. They plan to co-develop batteries for energy storage systems at InoBat's facility in Slovakia, exploring ways to recycle production scrap and end-of-life batteries.
InoBat was founded in 2019. In an interview with DIGITIMES Asia last year, Marian Bocek, InoBat's CEO, said the company targets the markets of electric buses, premium vehicles and urban air mobility. The battery maker is backed by UK's mining company Rio Tinto, India's battery maker Amara Raja and other companies.
Steven Cai, Gotion's CTO and the president of its General Research Institute of Engineering, said Gotion intends to localize EV battery production in Eastern Europe through comprehensive cooperation with InoBat.
The project will contribute to Gotion's plan to reach 100GWh of battery production capacity outside China by 2025, Cai said. It will also benefit the company's development in Europe.
According to South Korea-based research firm SNE Research, Gotion was ranked eighth in 2022 global EV battery usage. The company saw a 112.2% increase in battery installation last year.
Gotion also has ambition for the Southeast Asia market. It signed an agreement with Nuovo Plus, a subsidiary of Thailand-based PTT Group, in December 2022. The pair will set up a joint venture, Thailand's NV Gotion, to work on developing, manufacturing and selling battery modules and packs for EVs and ESSs.
According to Gotion, NV Gotion aims to build a battery pack production line in Thailand's Eastern Economic Corridor. The first production phase will likely begin by the fourth quarter of this year.
Gotion said NV Gotion is also tasked to set up a battery export base in ASEAN and explore the new energy market in the region.
