Sep 18, 2023 06:53 PM

BUSINESS

Battery-Maker Gotion Switches On Germany Factory

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What’s new: Gotion High-tech Co. Ltd. (002074.SZ) has kicked off production at its first European factory, part of a broader overseas expansion by the Chinese battery-maker.

The plant, located in the German city of Göttingen, will increase its production lines in four phases with an aim to reach annual capacity of 20 gigawatt-hours (GWh) of battery packs, according to a company statement published Sunday. It could hit 5 GWh of annual capacity by mid-2024.

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