Volkswagen’s affordable EV plans have a new Chinese partner
Gotion takes almost half of PowerCo's Valencia site and the controlling stake in two further ventures, one of them a cathode plant in Morocco, in a package Volkswagen describes as strengthening Europe's battery industry
Via TNW | Business
Volkswagen has agreed three joint ventures with China’s Gotion to build lithium iron phosphate battery capacity, selling 49% of PowerCo’s Valencia plant and taking minority stakes in a Slovak cell plant and a Moroccan cathode plant. Volkswagen says Europe currently has no relevant capacity of its own in the chemistry.
Volkswagen has agreed three joint ventures with the Chinese battery maker Gotion to build lithium iron phosphate capacity in Europe, InsideEVs reported. Gotion takes 49% of PowerCo’s plant at Valencia…
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