InoBat in trouble

InoBat (Marian Boček) plant in Voderady recently laid off 50 workers—half of its staff. Remaining employees have not been paid on time, and the production line has been shut down for six months, sources tell Forbes. Sources of N daily even speak of existential issues. Management says this is a strategic shift, with the plant now developing batteries for drones instead of premium car batteries. It is in talks with defense-sector investors. The plant has already received €19m in EU funding. Problems began last year with the collapse of its only major client, Lilium, a German electric air taxi startup. To date, the plant has lost €33m, including €20m last year.

The situation does not relate to the €1.2bn battery gigafactory planned in Šurany, which is to be built by a company 80% owned by China's Gotion and 20% by InoBat. Construction has not yet begun, but the cabinet has approved a €204m investment incentive.

(forbes.sk, dennikN.sk)