Gotion Expands Globally with Battery Plants: Gotion High-tech, a Chinese battery manufacturer backed by Volkswagen, has announced plans to establish advanced battery manufacturing facilities in Morocco and Slovakia. The combined investment of approximately €2.514 billion ($2.6 billion) demonstrates Gotion's commitment to expanding its international presence in the rapidly growing electric vehicle market. In Morocco, Gotion plans to invest up to €1.28 billion to build a 20 GWh-capacity plant, following the Moroccan government's endorsement and the signing of an investment agreement in June. The Slovakian venture will see an investment of up to €1.234 billion, with an annual production capacity of 20 GWh of lithium batteries. Gotion is already a notable player on the global stage, ranking as the world's eighth-largest EV battery producer with a 2.6 percent market share in the first ten months of this year, according to South Korean market tracker SNE Research. With its ventures in Slovakia and Morocco, Gotion is set to further deepen the company's global strategic layout, advance overseas business expansion, and meet the needs of international markets.

By Cheng Yu and Zhu Lixin | China Daily