China’s fourth-largest EV battery maker, Gotion, plans to expand its foreign footprint over the next few years.
According to the South China Morning Post, the EV manufacturer is in talks with several international car brands on supply contracts. As well the company is looking to expand its manufacturing footprint. Last month, Gotion secured approval to build a $175 million battery facility in Michigan.
Ray Chen, Gotion Vice-President, said this to the paper:
We will expand our footprint abroad, banking on our technological clout and the trust our clients place in us. Hopefully, Gotion’s businesses outside China will witness explosive growth from 2025 when our production lines are complete.
The company, which is partly owned by Volkswagen, has been making massive gains in the battery space. Although the company would not confirm who they have been talking to, they confirmed they have been discussing with significant players in the EV space.
Last year, the company installed 14.1 GWh of batteries, taking a 2.7 per cent global market share. The company is currently behind CATL, BYD and CALB in terms of global GWh but could catch up quickly. So, with a plan to expand its global reach, we could see Gotion climb the leaderboard over the next few years.
