GIB to build an Advanced Gigafactory in Slovakia

Bratislava, 20th June 2024 – The Slovak government has signed an Investment Agreement (IA) 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 deploys an innovative closed loop circular value-chain, located in the Šurany strategic eco park home of the Šurany Battery Hub.  The total planned capacity will reach up to 60 GWh and the first phase committed under the current IA is 20 GWh with Commercial Operations Date (COD) in 2026. Phase 1 will cover an area of over one hundred hectares and will employ more than a thousand workers. Construction is planned to begin at the end of 2024.

Li Zhen, Chairman of Gotion High-Tech, believes that this is a milestone in Gotion’s globalization 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. As a gloabl leading provider of green energy solutions, Gotion High-Tech is committed to providing affordable and high-quality battery products to society, and making green energy accessible and sustainable. The successful implementation of the project in Slovakia cannot be possible without the strong support from the Slovak government and the close cooperation with our partners. Adhering to the principle of “In Slovakia, For Slovakia”, and with the the robust backing of the Slovak government, we are striving to develop the project into the most advanced zero-carbon battery factory in the EMEA region, assisting Šurany in becoming a crucial hub for batteries and new energy industries in Europe and contributing Gotion’s strength to global energy transformation.

Steven Cai, President & CEO of Gotion EMEA and Chairman of GIB said: “We invested in InoBat and created GIB. Our Šurany Giga factory shall be a landmark showcasing our Gotion High Tech capabilities.   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.“

Marian Boček, CEO of InoBat, views this project as groundbreaking: We are proud to be part of GIB and are ready to play our part for this ambitious and challenging project. 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 & Development.“

About GIB

GIB (Gotion-InoBat-Batteries) is a joint venture between Gotion High Tech and InoBat based in Slovakia.  GIB was launched at COP 28 in Dubai on 5 December 2023. GIB’s focus is in the EMEA regions, offering localisation platforms to suitable partners aiming to create eco-hubs and battery value-chains to meet the demand for e-mobility and for green energy from stationary BESS.

About Gotion High-Tech Co.

Established in 2006 with its headquarters in Hefei, Anhui Province, China, Gotion High-tech Co., Ltd. stands as one of China’s pioneering enterprises in the independent development and manufacture of new energy batteries.  Gotion’s primary focus is on lithium iron phosphate (LFP) materials and cells, ternary materials and cells, power battery packs, battery management systems, and energy storage battery packs. Its products are extensively used in the EV sector, encompassing passenger, commercial, specialty, and light-duty vehicles. Gotion High-tech has a prominent position in the BESS sector, providing comprehensive solutions to its energy storage customers. Gotion EMEA, a wholly owned subsidiary of Gotion High-Tech, is incorporated in Slovakia.

About InoBat

Established in 2019, InoBat is a European battery company based in Slovakia focused on R&D and manufacturing to deliver high performance, customised Batteries.  InoBat’s R&D benefits from its coveted IPCEI award (Important Projects of Common European Interest).  Sector focus for InoBat is Aviation, High Performance Vehicles, Off-Highway specialist batteries, and transportation (buses, delivery vans, 2-wheelers).  InoBat created its C2C (cradle-to-cradle) circular value-chain based on alliances and in line with the UN’s SDG 2030 and the EU Green Deal.  InoBat has projects under development in EMEA countries with its strategic partner Gotion High Tech via its GIB (Gotion-InoBat-Batteries) JV.  InoBat’s investors include IPM Group (original sponsors), Gotion High Tech, Rio Tinto, Amara Raja, Lilium, Slovak Investment Holdings, and Across Private Investments.