Chinese battery maker Gotion taking 25% stake in Slovakia’s Inobat
- September 4, 2023
- Posted by: Quatro Strategies
- Categories: China, Europe, EVs & Battery Technology
Chinese battery manufacturer Gotion High Tech is acquiring a 25% stake in Slovak battery firm Inobat, marking the first investment by a Chinese battery maker in a European start-up. The deal is part of the two firms’ ongoing collaboration, announced earlier this year, to explore joint ventures to develop batteries for electric vehicles (EVs) and energy storage. While the financial details of the transaction remain undisclosed, the partnership is expected to help Inobat speed up its path to mass production of EV batteries.
Through this investment, Gotion will provide Inobat with access to its research and development capabilities, lithium supply chain, cell production, and recycling capabilities. This support will be instrumental in helping the Slovak startup scale up its battery production operations, enabling it to meet the growing demand for EV batteries in Europe. The partnership aligns with Gotion’s broader goal of expanding its production capacity outside China to cater to the increasing demand from EV manufacturers and energy storage providers.
Europe has been making efforts to reduce its reliance on dominant Asian battery manufacturers and establish a self-sufficient EV battery industry. While some companies, like Swedish firm Northvolt, have succeeded in raising substantial investments, others have faced challenges, such as the UK’s Britishvolt, which encountered difficulties earlier this year. Gotion’s partnership with Inobat reflects the ongoing trend of global collaboration in the EV battery sector, as companies seek to secure their positions in a rapidly growing market.
Gotion is a partially-owned subsidiary of Volkswagen, and its investment in Inobat represents a significant step in the global expansion of Chinese battery manufacturers. This move signifies China’s ambition to play a more prominent role in the EV and battery industries on a global scale. Inobat, on the other hand, has signed declarations of intent with the governments of Spain and Serbia to build EV battery plants, although these agreements are still pending finalization. The collaboration between Gotion and Inobat is poised to contribute to the growth of Europe’s EV battery ecosystem as the region continues to transition towards electric mobility.
Interested in learning more?
Sign up for Top Insights Today
Top Insights Today delivers the latest insights straight to your inbox.
You will get daily industry insights on
Oil & Gas, Rare Earths & Commodities, Mining & Metals, EVs & Battery Technology, ESG & Renewable Energy, AI & Semiconductors, Aerospace & Defense, Sanctions & Regulation, Business & Politics.
Read more insights
Washington targets China’s maritime dominance with new port fees
The United States is preparing to impose docking fees on ships at U.S. ports if they are part of a fleet that includes Chinese-built or Chinese-flagged vessels. The Trump administration is crafting the measure as part of a broader effort to revive the U.S. shipbuilding industry and curb China’s dominance in global shipping.
This initiative aligns with rare bipartisan agreement in Washington, where both Republican and Democratic lawmakers see China’s growing control of the seas and declining U.S. naval capabilities as national security concerns. Over the past two decades, China has expanded its global shipbuilding market share from 5% in 1999 to over 50% today, largely at the expense of Japanese and South Korean shipbuilders.
Record negative power prices in Europe highlight need for energy storage solutions
Europe has experienced a record number of hours with negative power prices this year due to a mismatch between supply and demand, as solar power generation surges. This situation may drive investment towards essential storage solutions. During the first five months of this year, key European wholesale power markets…
EU scrambles to align climate law with Trump’s energy demands
As the European Union attempts to defuse a looming trade clash with U.S. President Donald Trump, Brussels is quietly exploring ways to ease the impact of its new methane emissions rules on American gas exporters—without weakening the law itself.
The initiative is part of the EU’s broader effort to craft a trade proposal that could prevent Trump from moving ahead with a new wave of tariffs, particularly those targeting European cars and industrial goods. Both sides have signaled energy trade—especially liquefied natural gas (LNG)—could be a key bargaining chip in any deal.
