Volkswagen’s Chinese battery partner Gotion High-Tech has announced plans to invest a total of 12 billion yuan (1.55 billion euros) in the construction of battery recycling and raw material production facilities for lithium batteries in the Chinese city of Hefei.
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Volkswagen’s battery partner in China, Guoxuan High-Tech, has presented a new battery cell with LFP chemistry with an energy density of 210 Wh/kg. As early as next year, the company, usually known as Gotion High-Tech, wants to achieve 260 Wh/kg.
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Bolstered by the investment from Volkswagen last spring, the Chinese battery manufacturer Gotion High-Tech alias Guoxuan is preparing to expand the production capacity for its cells. The talk is of 28 GWh annual capacity, which the company plans to reach this year.
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Volkswagen has officially confirmed its plan to increase its stake in JAC Volkswagen, its joint venture for electric mobility, and to invest around one billion euros in this. The Wolfsburg-based company will invest another billion in a Chinese battery specialist.
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Volkswagen wants to buy 20 per cent of the Chinese electric car battery manufacturer Guoxuan High-Tech. There had already been rumours to this effect in August. According to the Reuters news agency, most of the details of the deal have already been finalised.
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The Volkswagen Group is exploring potential investment opportunities with Chinese automotive suppliers in a bid to secure access to “key technology” with a focus on e-mobility in the planet’s largest car market.
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JAC Motors of China is building on its existing partnership with Hefei Guoxuan High-Tech Power Energy. They want the latter to deliver batteries for electric vehicles in bulk by 2019, no less than 4 GWh to be exact. And they have sales ideas as well.
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