Aerial photo taken on April 26, 2020 shows people working in a photovoltaic power station in Weining County, southwest China's Guizhou Province. (Xinhua/Tao Liang)
BEIJING, Feb. 9 (Xinhua) -- Hefei Gotion High-tech Co., Ltd., a wholly-owned subsidiary of Gotion Hi-Tech, has signed a memorandum of understanding(MoU) with European battery manufacturer InoBat to reinforce their cooperation in Europe, and promote the transformation of power batteries and energy storage, reported Xinhua-run China Securities Journal.
According to the agreement, the two parties will explore joint venture opportunities in revolutionizing EV battery and energy storage technologies, including co-development of a gigafactory with cell and pack production capacity of 40 GWh.
Based on InoBat's existing plant in Slovakia, the two sides will further open up the European energy storage market. In addition, the two parties are committed to establishing technical and commercial cooperation in the operation of the facility and jointly exploring the feasibility of recycling production waste and end-of-life batteries.
Gotion High-tech's cooperation with InoBat is a win-win cooperation and a good opportunity to create a better future, which can accelerate the realization of 100GWh battery layout overseas of Gotion High-tech in 2025 and help the company's internationalization process, said Cai Yi, senior vice president of Gotion Hi-Tech.
The two sides will jointly carry out all-round cooperation and discussion in battery technology innovation, European localized production and battery recycling and other aspects, according to Cai.
(Edited by Bao Nuomin with Xinhua Silk Road, baonuomin@xinhua.org)
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