Gotion High-tech Co (SHE: 002074 / FRA: 24U0) researches, develops, manufactures and markets lithium EV batteries with Volkswagen owning a 30% stake. With plans to expand a China-only operation globally, Gotion High-tech’s subsidiary recently made negative headlines in the USA:
Gotion High-tech, which commands less than a 3% global share, is currently the eighth-largest EV battery supplier in the world based on volume, and the fourth largest in China. Starting this year, the company will expand what is essentially a China-only operation into a global network, placing a third of the capacity overseas. Its principal investor, Volkswagen, which purchased a roughly 30% stake in Gotion in 2021, will be a major part of this global push (China battery maker Gotion plugs into VW for global expansion).
Global R&D centers were established in Hefei, Shanghai, Silicon Valley, Cleveland, Tsukuba, Singapore, Europe, Germany and other places. Volkswagen (China) invested about 1.1 billion euros to become a shareholder of Gotion Hi-Tech on May 28, 2020. The two sides will jointly carry out battery technology innovation and R&D, making Hefei City, even Anhui Province an important base of China's electric vehicle industry, and welcome the arrival of the global electric era. (About)
Gotion, a subsidiary of China-based company Gotion High-Tech, will invest $2.4 billion to construct two 550,000 square-foot production plants across 260 acres in Michigan.
During a public hearing for the Michigan Senate's appropriations committee, locals condemned plans to use $175 million in taxpayer funds….. Despite being aggressively confronted for considering the plans, the committee went on to approve the measure in a tight 10-9 vote, with every Republican and three Democrats on the committee coming out against it (Daily Mail).
According to Fox News, the corporate bylaws of Gotion High-Tech, the parent company of Gotion, mandates that the company carries out 'Party activities in accordance with the Constitution of the Communist Party of China.'
Disclaimer. The information and views contained on this website and newsletter is provided for informational purposes only and does not constitute investment advice and/or a recommendation. Your use of any content is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the content. Seek a duly licensed professional for any investment advice. I may have positions in the investments covered. This is not a recommendation to buy or sell any investment mentioned.
Gotion High-tech Co (SHE: 002074 / FRA: 24U0): The EV Battery Maker Causing a Stir in Michigan
Gotion High-tech Co (SHE: 002074 / FRA: 24U0): The EV Battery Maker Causing a Stir in Michigan
Gotion High-tech Co (SHE: 002074 / FRA: 24U0): The EV Battery Maker Causing a Stir in Michigan
Gotion High-tech Co (SHE: 002074 / FRA: 24U0) researches, develops, manufactures and markets lithium EV batteries with Volkswagen owning a 30% stake. With plans to expand a China-only operation globally, Gotion High-tech’s subsidiary recently made negative headlines in the USA:
Furious Michigan residents accuse Dem-led state senate of helping 'overthrow the US' by green lighting $2.4B plans for Chinese green energy giant to build two huge plants
Despite outcry, Michigan passes US$175 million for Chinese-owned battery plant
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Gotion High-tech, which commands less than a 3% global share, is currently the eighth-largest EV battery supplier in the world based on volume, and the fourth largest in China. Starting this year, the company will expand what is essentially a China-only operation into a global network, placing a third of the capacity overseas. Its principal investor, Volkswagen, which purchased a roughly 30% stake in Gotion in 2021, will be a major part of this global push (China battery maker Gotion plugs into VW for global expansion).
Global R&D centers were established in Hefei, Shanghai, Silicon Valley, Cleveland, Tsukuba, Singapore, Europe, Germany and other places. Volkswagen (China) invested about 1.1 billion euros to become a shareholder of Gotion Hi-Tech on May 28, 2020. The two sides will jointly carry out battery technology innovation and R&D, making Hefei City, even Anhui Province an important base of China's electric vehicle industry, and welcome the arrival of the global electric era. (About)
Tesla, VW & Gotion High-Tech's scary battery CHESS moves (Youtube) 9:00 Min
NEW VW/Gotion battery tech is a MASSIVE game changer (Youtube) 8:22 Min
Gotion, a subsidiary of China-based company Gotion High-Tech, will invest $2.4 billion to construct two 550,000 square-foot production plants across 260 acres in Michigan.
During a public hearing for the Michigan Senate's appropriations committee, locals condemned plans to use $175 million in taxpayer funds….. Despite being aggressively confronted for considering the plans, the committee went on to approve the measure in a tight 10-9 vote, with every Republican and three Democrats on the committee coming out against it (Daily Mail).
According to Fox News, the corporate bylaws of Gotion High-Tech, the parent company of Gotion, mandates that the company carries out 'Party activities in accordance with the Constitution of the Communist Party of China.'
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Tesla, VW & Gotion High-Tech's scary battery CHESS moves (Youtube) 9:00 Min
NEW VW/Gotion battery tech is a MASSIVE game changer (Youtube) 8.22 Min
Furious Michigan residents accuse Dem-led state senate of helping 'overthrow the US' by green lighting $2.4B plans for Chinese green energy giant to build two huge plants (Daily Mail)
Despite outcry, Michigan passes US$175 million for Chinese-owned battery plant (SCMP)
China battery maker Gotion plugs into VW for global expansion (NIKKEI Asia)
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Disclaimer. The information and views contained on this website and newsletter is provided for informational purposes only and does not constitute investment advice and/or a recommendation. Your use of any content is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the content. Seek a duly licensed professional for any investment advice. I may have positions in the investments covered. This is not a recommendation to buy or sell any investment mentioned.