Volkswagen Expands Gotion Partnership for LFP Battery Production in Europe

Volkswagen Group is forming three joint ventures with China's Gotion to build LFP battery production in Europe. Gotion will pay $1.25 billion for a 49% stake in PowerCo's Valencia plant (29.1 GWh), while VW will invest about $535 million through 2030 in a Slovakia plant (8.4 GWh) and cathode production in Morocco.

• Gotion to take 49% stake in PowerCo's Spain plant for $1.25 billion
• Valencia plant capacity will reach 29.1 GWh
• VW to invest $535 million through 2030 in Slovakia and Morocco
• LFP share in Europe could rise from 10% to 40-60% by 2030