Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
News for Outlets

Gotion Hi-Tech plans to invest in battery material project in U.S.

October 26, 2023


Abstract : Gotion High-tech Co., Ltd. (Gotion Hi-Tech), a Chinese private enterprise in power battery industry, announced on Wednesday evening that it plans to construct a battery material project in Michigan, the United States, with an attempt to promote international green energy industrial cooperation and meet the raw material supply for the battery manufacturing business in North America.

pic.jpg

Photo posted on Gotion Hi-Tech's website shows the exterior of the company's office building in Fremont, California, the United States. (Source: Gotion Hi-Tech)

BEIJING, Oct. 26 (Xinhua) -- Gotion High-tech Co., Ltd. (Gotion Hi-Tech), a Chinese private enterprise in power battery industry, announced on Wednesday evening that it plans to construct a battery material project in Michigan, the United States, with an attempt to promote international green energy industrial cooperation and meet the raw material supply for the battery manufacturing business in North America.

The project will be entrusted to its wholly-owned subsidiary Gotion, Inc. to sign relevant agreements with the government of Michigan and other third-party partners.

The project is scheduled to invest a total amount of 2.364 billion U.S. dollars (about 17 billion yuan).

Up to now, the project has completed the signing of the purchase contract for the construction land of the project, according to the disclosure of the company.

In recent years, Gotion Hi-Tech has been implementing an internationalization strategy. In the first half of this year, the company achieved overseas revenue of 3.062 billion yuan, up 296.74 percent year on year. The proportion of overseas business revenue to the company's total income has increased from 8.94 percent in the first half of 2022 to the current 20.09 percent.

(Edited by Tian Shenyoujia with Xinhua Silk Road, tianshenyoga0524@163.com)

Scan the QR code and push it to your mobile phone

Keyword: Gotion Hi-Tech battery material project

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial