Gotion High-Tech’s Subsidiary Set to Ink €1.094 Billion Engineering Deal, Pending Shareholder Approval

14 hour ago / Read about 0 minute

Author：小编

Gotion High-Tech has disclosed that its wholly-owned entity, Gotion Spain, is poised to enter into a contract with PowerCo Spain—a Volkswagen Group subsidiary—for a lithium battery initiative. The agreement encompasses comprehensive contracting services for the Phase I drying room, as well as for the Phase II project, which boasts an impressive annual production capacity of 29.1 GWh and carries a total contract value of €1.094 billion. As this transaction involves a related-party deal, it necessitates the green light from the shareholders' meeting before proceeding.

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