Volkswagen Sells 49% of Sagunto's Gigafactory to Chinese Gotion with Contracts of 1,094 Million
8 Articles
8 Articles
The agreement is part of an operation that affects three plants and allows Volkswagen to alleviate the high costs of its subsidiary PowerCoGotion batteries arrives in Spain as a new battery giant from Hefei and Wolfsburg Volkswagen continues its process of restructuring and slimming. It has announced an agreement with the Chinese group Gotion High-Tech, participated by Volkswagen itself, for the sale of 49% of the gigafactory of Sagunt batteries…
Both companies will jointly manage this gigafactory and two others in Slovakia and Morocco
It reaches an agreement with the battery manufacturer of which the German company has a 26% property similar to that of Ford and Geely in Almussafes
The German multinational gives to its Asian partner almost half of the project and commissioning engineering. The plan is to make the Valencian plant the European center of production of LFP batteries
The Volkswagen Group, PowerCo and Gotion High-Tech have agreed to deepen their strategic alliance through a joint venture for the development and operation of the gigafactory of battery cells in Sagunto, in the Valencian Community. The planned collaboration enhances the technological capabilities of the plant to make it the main European production center of lithium-ferrophosphate batteries (LFP). This step represents a new milestone in the indu…
The Chinese company Gotion Hi-tech has bought 49 % of the gigafactory of Sagunt and PowerCo retains the other 51 %. Gotion’s investment in Valencia is 1,094 million euros. The plant will start production in 2027 with a capacity of 30 GWh per year, 50% more than initially planned. Volkswagen has confirmed the operation and the workforce has been summoned at 5 p.m. in Sagunt’s gigafactory to receive first-hand information.
Coverage Details
Bias Distribution
- 50% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
