Details
🏭 New Plants: Two factories in Nanjing and Wuhu are planned, each with an annual capacity of 20 GWh. Total investment: CNY 8 billion (USD 1.1 billion).
📈 Half-Year Results: Revenue rose 15 percent to CNY 19.4 billion (USD 2.7 billion), while net profit increased 35 percent to CNY 367 million (USD 51.5 million).
🌍 International: One-third of revenue comes from abroad, mainly from EV batteries and energy storage.
🔋 Business Focus: 73 percent of revenue came from power batteries, 24 percent from energy storage solutions.
🚗 Shareholders: Volkswagen has held around 26 percent of Gotion since 2020, making it the largest investor.
Big Picture
With this expansion, Gotion is solidifying its position as one of China’s leading battery manufacturers and a key international partner of Volkswagen. The new plants will strengthen China’s Yangtze River battery cluster and meet rising demand for EV and energy storage solutions. For VW, close cooperation with Gotion is a key pillar in securing supply in a market shaped by geopolitical risks.
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