Gotion High-tech (002074.SZ) plans to jointly invest with Volkswagen Group in lithium battery and cathode material production bases, with a total investment of approximately 3.222 billion euros.

Zhitong Finance APP News, Gotion High-Tech (002074.SZ) has announced that the company and its wholly-owned subsidiaries Gotion High-Tech (HK) Limited, Gotion GmbH, Gotion Power Africa S.A.S., along with Volkswagen AG (hereinafter referred to as "Volkswagen Group") and its wholly-owned subsidiaries PowerCoSE and PowerHoldco Lux S.A., intend to sign an "Investment Agreement." According to the arrangements under these agreements, three joint venture companies will be established in Valencia, Spain; urany, Slovakia; and Kenitra, Morocco, respectively, to invest in the construction of lithium battery and cathode material production bases.