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Volkswagen and Gotion plan €3.22 billion battery plants in Europe, North Africa
The planned sites would add 37.5 GWh of lithium-ion battery capacity and 100,000 metric tons of cathode materials annually.
Volkswagen Group and its Chinese battery partner Gotion High-tech said they plan to invest a combined €3.22 billion to build three electric vehicle battery production lines across Europe and North Africa, aiming to meet rising global EV demand.
According to an exchange filing reported by SCMP Economy, the jointly owned factories would have a combined capacity of 37.5 gigawatt hours of lithium-ion batteries and 100,000 metric tons of cathode materials per year.
Gotion said the projects align with its overseas expansion strategy to strengthen its position in the global EV battery market while deepening its long-term strategic partnership with Volkswagen.