Volkswagen and Gotion plan three battery joint ventures
Volkswagen and Gotion High-tech are set to deepen cooperation through three joint ventures, including the battery cell factory under construction by PowerCo in Sagunto, Spain. The deal could affect battery projects in Slovakia and Morocco, but its implementation still depends on approval from the relevant authorities.
Volkswagen is moving closer to its battery partner Gotion High-tech through a package of three planned joint ventures. One of them would cover the battery cell factory under construction by VW subsidiary PowerCo in Sagunto, Spain.
In return, Gotion is opening the door for Volkswagen on battery projects in Slovakia and Morocco. The report says the mega-deal now depends on the relevant authorities.
The source does not say when the arrangements would take effect or whether approvals have been granted.