Gasgoo Munich- Gotion High-Tech (002074.SZ) released its third-quarter report for 2026 on the evening of Oct. 28. Revenue for the first three quarters hit 45.437 billion yuan, a 53.98% jump from a year earlier, while net profit excluding non-recurring items surged 195.54% to 252 million yuan.
On the business front, Gotion's growing market share in power batteries shored up its earnings base. Its energy storage operations are shifting from simple supply and delivery to general engineering contracting, opening new market space. The partnership with Volkswagen now extends to co-building overseas capacity, offering fresh supply-chain support for its global push.
Image Source: Gotion High-Tech
Data from the China Automotive Power Battery Innovation Alliance shows domestic power battery installations reached 576.3 GWh in the first three quarters, up 16.7% year-on-year. Gotion's installations hit 34.89 GWh during the same period — a 32.81% gain that lifted its market share to 6.07%, up 0.74 percentage points from a year earlier.
Globally, SNE Research data puts the company's installations at 41.5 GWh from January through August, climbing 47.1% — well ahead of the 19.7% global market growth rate. That keeps Gotion ranked fifth worldwide.
In passenger vehicles, Gotion is deepening ties with major automakers including Chery, Geely, and Leapmotor. It supplies LFP batteries for the entire Chery QQ3EV lineup, a model that has topped 10,000 in monthly sales for six straight months. Gotion also remains Leapmotor's top cell supplier, powering core models like the A10, B10, C11, and C16, and ranks as the primary provider across several of those vehicles.
Beyond passenger cars, new-energy heavy trucks are emerging as a key growth frontier for the company's battery business. Industry figures show Gotion's heavy-truck battery installations ranked among the top five from January to August, jumping 51.5% year-on-year.
The main hurdle for electrifying heavy trucks is transport economics. Tackling that pain point, Gotion has kept pushing product upgrades. On Oct. 20, it rolled out a new-generation CTB rear-integrated heavy-truck battery. Compared with traditional single-pack setups, the system sheds roughly 400 kg from the vehicle and covers battery capacities from 400 to 700 kWh.
Meanwhile, Gotion's partnership with Volkswagen is pushing its global footprint into deeper territory.
The two sides already cooperate on equity, standard cell development, and large-scale supply. Gotion's first-half report shows it sold roughly 2.536 billion yuan worth of materials and cells to Volkswagen (China) and affiliates in the first half of 2026, laying a business foundation for deeper supply-chain ties.
In September, Gotion detailed plans to step up its partnership with the Volkswagen Group. The two intend to set up three joint ventures in Spain, Slovakia, and Morocco, building lithium battery plants with annual capacities of 29.1 GWh and 8.4 GWh, respectively, plus an LFP cathode material facility producing 100,000 tons a year. A wholly-owned Gotion subsidiary is also slated to handle engineering for the Valencia battery project in Spain. Unlike past moves that simply planted overseas capacity, this collaboration links the entire chain — from upstream materials and cell manufacturing to local supply for downstream customers.
