VW-backed Gotion High-Tech raises 2025 power battery capacity target to 300GWh
Shanghai (Gasgoo)- Chinese battery manufacturer Gotion High-Tech has significantly raised the goal of battery capacity for the year of 2025 to 300GWh from the previously announced 100GWh, Cheng Qian, the executive vice president of Gotion High-Tech's global headquarters, revealed at an industrial seminar held by two media outlets.
Photo credit: Gotion High-Tech
Among power battery manufacturers in China, Gotion High-Tech was credited the second runner-up in August with 0.69GWh battery installed, following CATL (6.5GWh) and BYD (2.4GWh), according to the data from the China Automotive Power Battery Industry Innovation Alliance (CAPBIIA). Last month, the Hefei-based battery supplier accounted for 5.5% of China's total installed capacity of power batteries.
By the end of 2020, the company's power battery capacity totaled 28GWh, Gotion High-Tech revealed earlier this month on an information platform set to answer investors' questions.
In the latest semi-annual financial results, the battery maker stated that it would endeavor to expand capacity by constructing manufacturing facilities worldwide, making breakthroughs in quality issues and technologies, improving operation efficiency, as well as building global platforms.
On July 20, Hefei Gotion High-Tech Power Energy Co.,Ltd., (Hefei Gotion), a wholly-owned subsidiary of Gotion High-Tech, signed an agreement with the management committee of Hefei Xinzhan High-tech Industrial Development Zone, intending to build a 20GWh power battery base dedicated to manufacturing Volkswagen's unified cells.
The new deal was signed after Hefei Gotion and Volkswagen (China) Investment Company Limited agreed on July 12 that Gotion High-Tech would develop the German auto giant's first-generation unified cells for the volume segment.
Moreover, Gotion High-Tech inked a deal with Bosch in late July to acquire the latter's factory in Gottingen, Germany. The Chinese battery maker said it planned to turn the plant, which produces spare parts for the automotive aftermarket, into its first battery production center in Europe.
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