Sunday, July 14, 2024
HomeTransportSlovakia secures €1.2 billion investment for electric vehicle battery plant

Slovakia secures €1.2 billion investment for electric vehicle battery plant

The Slovak government has signed an investment agreement with Gotion InoBat Batteries (GIB), a joint venture between one of the top-tier Chinese battery companies Gotion High-tech and the Slovak innovative battery company InoBat.

GIB’s giga factory will deploy an innovative closed loop circular value-chain, located in the Šurany strategic eco park home of the Šurany Battery Hub, for a totla investment of up to 1.2 billion euros. The total planned capacity will reach up to 60 gigawatt-hours (GWh) and the first phase committed under the current agreement is 20 GWh with a commercial operations date in 2026. Phase 1 will cover an area of over one hundred hectares and will create up to 1,311 new jobs with wages above the district average. Construction is planned to begin at the end of 2024.

Li Zhen, Chairman of Gotion High-Tech, said that this is a milestone in Gotion’s globalisation strategy, a giant leap forward in promoting green development together with overseas enterprises and also a key strategic cooperation between GIB and the Slovak government in developing green energy.

“Our Šurany Giga factory shall be a landmark showcasing our Gotion High Tech capabilities,” added Steven Cai, President and CEO of Gotion EMEA and Chairman of GIB. “The project will also include a research and development centre in Šurany and we already started collaborating with universities on educational programs to help meet the demand for experts. As importantly, is our collaboration locally within the municipality and the Nitra region to develop the workforce through vocational training courses.”

“We are proud to be part of GIB and are ready to play our part for this ambitious and challenging project,” commented Marian Boček, CEO of InoBat. “Exciting to be involved in a new era for Slovakia, becoming a leader in the battery sector to clean energy and e-mobility. GIB’s Šurany factory will be among the largest and most innovative of its kind in the world. The Šurany Battery Hub will become a showcase for strategic eco parks and a Hub for Research and Development.”

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