Gotion acquired 25% in InoBat Auto
Local IPM group (Marián Boček) found a strategic investor for its premium electric car battery project, as China’s Gotion acquired a 25% stake in InoBat Auto. Gotion is one of the world's largest battery manufacturers, and with 24%, Volkswagen is its largest shareholder. InoBat Auto's smaller investors include global mining conglomerate Rio Tinto and Indian battery maker Amara Raja. By partnering with Gotion, InoBat Auto gains access to large production capacities and vast production experience. Gotion has an exclusive contract with VW to supply batteries outside China. Together with InoBat Auto, Gotion wants to build a battery development, production and recycling center in the CEE region.
InoBat Auto is finalizing its development center and pilot production line in Voderady. It is seeking capital for larger plants in Košice, the UK or Spain.
