Volkswagen, through its battery company PowerCo, is deepening its strategic partnership with the Chinese company Gotion High-Tech. The cooperation concerns the production of battery cells in Spain, Slovakia and Morocco.
Gotion is set to acquire a 49-percent stake, for 1.1 billion euros, in Volkswagen's gigafactory in Sagunto near Valencia. Both companies will jointly operate the plant. The deal comes after the automotive group Ford's partnership with the Chinese company Geely, which is to operate in nearby Almussafes. El Mundo ↗
The PowerCo and Gotion partnership is also set to cover two further battery plants, in Slovakia and Morocco. In Slovakia, Volkswagen is entering the project to build a battery factory in Šurany, in which it is to acquire a 49-percent stake. kultura.pravda.sk ↗
Under the agreement, hundreds of millions of euros are to go into battery cell production in Šurany. The project thus gains a direct link to one of the largest automotive groups in the world and to its company PowerCo. hnonline.sk ↗
The expanded cooperation creates a joint framework for several plants in Europe and North Africa. Volkswagen and Gotion will continue coordinating projects in Sagunto, Šurany and Morocco, although specific details about the Moroccan plant and its financing have not yet been disclosed. El Pais ↗
Volkswagen and Gotion deepen cooperation in Spain, Slovakia and Morocco
This summary was generated by artificial intelligence. It may contain inaccuracies. Please verify information in the original sources below.
Sources (4)
La china Gotion adquiere el 49% de la gigafactoría de Volkswagen en Sagunto por 1.100 millones de euros
El Mundo
| 18:33 28.09.
Volkswagen vstupuje do baterkárne v Šuranoch. Do projektov naleje stovky miliónov eur
hnonline.sk
| 17:40 28.09.
Volkswagen vstupuje do batériovej fabriky v Šuranoch. Získa v nej 49-percentný podiel
kultura.pravda.sk
| 18:18 28.09.
La china Gotion compra el 49% de la planta de baterías de Volkswagen en Sagunto por 1.100 millones
El Pais
| 16:20 28.09.
🔥 You might also like
European Union
What Europe writes about: Russian attack on Kryvyi Rih killed 16, Trump claims Hormuz is American, Canada pays 50% tariffs
Russian drones hit shopping center in Kryvyi Rih twice; 16 dead. Trump claims Hormuz is American, Canada pays 50% tariffs. Overview from 37 countries.
📰
Cars & Motorcycles
Klaus Zellmer leaves Škoda Auto to head Volvo Cars
Klaus Zellmer will end his role as chairman of the board of Škoda Auto and become the new president and CEO of Volvo Cars. Š...
European Union
What Europe is writing about: Fed raises rates for the first time since 2023, Trump threatens the EU over Canada, Hague convicts Thaçi
Fed raised interest rates for the first time since 2023, Trump threatens the EU with a trade war over Canada, Hague sentenced Thaçi to 25 years in prison. Overv …
© HotInfo
Geographic locations
From our newsroom original
All →
Berlin's Left faces disputes over taxes, expropriation and government
Starship Reaches Earth Orbit for the First Time
Pope Leo XIV called for peace negotiations in Europe in Metz
Leo XIV Celebrated Mass in Paris for 700,000 People
Aleksandar Vučić Announces Departure from the Presidency
What Slovakia is writing about: The General Prosecutor’s Office closes the MiG case, Fico calls a press conference against Žilinka. The coalition recalculates its MPs
French publishers grapple with their first AI scandal. There is no proof yet, but the author’s old texts contain sentences taken from elsewhere
René Benko's Two-and-a-Half-Year Sentence for Fraudulent Bankruptcy Is Final. Neither Prosecution nor Defense Appealed
