What’s new: Gotion High-tech Co. Ltd. (002074.SZ) has kicked off production at its first European factory, part of a broader overseas expansion by the Chinese battery-maker.
The plant, located in the German city of Göttingen, will increase its production lines in four phases with an aim to reach annual capacity of 20 gigawatt-hours (GWh) of battery packs, according to a company statement published Sunday. It could hit 5 GWh of annual capacity by mid-2024.
