Gotion InoBat Batteries (GIB) has signed a memorandum of understanding with the Government of the slovak republic to support the construction of a battery gigafactory.

GIB is a joint venture between Gotion High-Tech and InoBat.

BRATISLAVA, November 22, 2023 – On Wednesday, November 22, 2023, the signing of a Memorandum of Understanding took place at the Office of the Government of the Slovak Republic in Bratislava between the Slovak government and Gotion InoBat Batteries (GIB) regarding the construction of a battery factory in Šurany.

In the memorandum, GIB committed to starting the construction of the factory in 2024, and the government of the Slovak Republic, represented by the Ministry of Economy of the Slovak Republic, pledged to provide subsidies, arrange the land, prepare the construction site, and ensure the connection to the electrical grid. The Šurany factory will be located on a 65-hectare area and will create thousands of jobs. In the initial development stage, it will have a capacity of 20 GWh, but it has the potential to reach a capacity of up to 40 GWh. The targeted start of production (“SOP”) in Q2/2026 and full-scale production is scheduled for 2027.

Prime Minister of the Slovak Republic, Robert Fico, considers the trust of investors in selecting a location as evidence that Slovakia is returning to the map of economically attractive countries.

“Foreign investments are a necessary catalyst for our economy. They bring not only capital but also job opportunities and technological innovations. Our government guarantees a stable and predictable political and legal environment and professionalism in governing the country. The arrival of foreign investments, job creation, technological transfer, and capital inflow into the country are, therefore, a direct confirmation of mutual trust,” stated the Prime Minister.

The Government of the Slovak Republic, represented by the Ministry of Economy, undertook to provide grants, settle the land, undertake to prepare the building plot, and ensure the connection of the power grid. Minister of Economy of the Slovak Republic Denisa Saková appreciated the choice of location in Slovakia, adding that in addition to new jobs, the gigafactory will bring cutting-edge technology to the region.

“Assisting in the construction of the gigafactory in Šurany fulfills the purpose of the partnership between the state and an innovative, cutting-edge, and, above all, global company with roots in Slovakia. Thanks to it, we have the opportunity to shine again on the map of countries with technologically advanced industries, with battery production for electric vehicles going hand in hand with a strong tradition of automotive manufacturing that we have in Slovakia.”

Chairman of Gotion High-Tech Li Zhen said that the new energy era has arrived and electrochemical energy storage is the mainstay of energy storage transition. “Supported by the government of the Slovak Republic and InoBat, Gotion aspires to establish this project as the foremost advanced battery manufacturing base and zero-carbon factory in Europe, and even globally”.

 InoBat CEO Marián Boček says everyone at InoBat is delighted and proud that the Government of the Slovak Republic, represented by the Ministry of Economy, had shown its strong support and vote of confidence in Gotion InoBat Batteries (GIB).

“GIB represents joint effort of InoBat and Gotion High Tech in developing a battery giga-factory in Slovakia. GIB represents a unique example of strong partnership between fast-growing start-up with the outstanding experience in project development and knowledge of Slovakian context and the technology leader capable of delivering a full range of technology and scale-up manufacturing capacities. Together we are able to fast-track decarbonization efforts putting Slovakia and Europe in the center of green economy.”

For more information, please contact Peter Papanek:

About Gotion High-Tech

Gotion High-Tech Co., Ltd., as the first private enterprise in the power battery industry to enter the capital market in China, was listed on the Shenzhen Stock Exchange in May 2015. The Company specializes in the development and manufacture of power batteries for new energy vehicles, energy storage application, power transmission and distribution equipment, etc. Gotion High-Tech is a technology-based Company focused on power battery technology research and development and innovation. It is one of the earliest enterprises engaged in the independent research and development, production and sales of new energy vehicle power lithium-ion batteries in China. Gotion High-tech has global operations and has carried out strategic cooperation with Volkswagen, Tata Group, Vinfast and Jinko, among others.

About InoBat

InoBat specialises in pioneering research, development, design, manufacturing, supply and recycling of innovative electric batteries custom-designed to meet the specific scope and requirements of global mainstream and specialist OEMs and energy sector participants. InoBat’s sector focus is on the automotive, commercial vehicle, motorsport, and aerospace sectors. InoBat provides innovative solutions across the entire value chain thanks to its “C2C” circular value-chain InoBat is backed by a strong consortium of strategic investors and partners such as Rio Tinto, Gotion, Amara Raja, and the International Finance Corporation of the World Bank Bank, and it original sponsors the IPM Group, Avanea and Across. InoBat achieved R&D grant financing under the EU sponsored programme, Important Projects for Common European Interest (IPCEI), and additional support from the Slovak Government.