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

HEFEI, China, Feb. 7, 2023 /PRNewswire/ -- 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
• technical cooperation based on both sides' respective advantages of LFP and NMC batteries
• co-develop the potential for ESS battery production at existing InoBat premises in Slovakia allowing fast access to the European market
• technology and commercial partnership in facility operations
• investigation of recycling concepts for production scrap and end of life batteries

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.

About Gotion High-Tech

Gotion High-tech is a world-leading provider of new energy solutions. It focuses on the R&D, production and sales of EV lithium-ion batteries and ESS batteries and ranks among the top in China and the global market in terms of comprehensive strength. Gotion High-tech has global operations and has partnered with Volkswagen, Tata Group, Vinfast, and Jinko.

For more information, visit https://en.gotion.com.cn

About InoBat:

InoBat specializes in electric battery R&D, supply, and recycling for global OEMs in automotive, commercial vehicle, motorsport, and aerospace. Its "cradle-to-cradle" approach promotes a circular economy. Backed by Rio Tinto, Amara Raja, Ideanomics, IFC, IPM Group and other strategic investors and partners, InoBat has a R&D facility and pilot line in Slovakia. It has also been approved for grant financing under the Important Projects for Common European Interest (IPCEI).

For more information, visit https://inobat.eu/

SOURCE Gotion High-tech