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Volkswagen, PowerCo and Gotion plan three European LFP battery sites
Volkswagen Group, its battery subsidiary PowerCo SE, and Chinese battery manufacturer Gotion High-tech are establishing three joint ventures for lithium iron phosphate (LFP) battery production across Europe and North Africa. The agreement covers battery cell manufacturing in Valencia, Spain, and Šurany, Slovakia, plus a new LFP cathode material production facility in Kenitra, Morocco. LFP batteries are forecast to increase their share of the European battery market from approximately 10% today to between 40% and 60% by 2030.
Why it matters
The joint ventures address Europe's current lack of significant LFP production capacity while supporting demand for more affordable electric vehicles through cost effective battery solutions. The partnership extends into joint procurement and sales activities, potentially creating supply chain opportunities for contractors and equipment providers across the three manufacturing sites.
Volkswagen · PowerCo · Gotion · Source