A look at Gotion High-Tech, its rapid growth, and its overseas expansion strategy, including to the United States.
The heaquarter campus of Gotion High-Tech in Hefei, Anhui province. Credit: Gotion High-Tech
When it comes to making electric vehicles and their inputs, Chinese companies have been ahead of the curve. Now, the U.S. is spending big to catch up: through the federal and state governments, it’s offering tens of billions of dollars in incentives to bring EV production back to America.
Ironically, one of the earliest takers is a Chinese company. This month, Gotion High Tech announced it would construct a major battery input factory in Michigan, having secured $715 million in state financial incentives.
Gotion is a relatively minor player in China’s EV battery industry, but the Volkswagen-backed company has ambitious growth plans. By 2025, it plans to have one-third of its battery production capacity located outside of China. If Washington’s intention is to keep China out of its EV supply chain, Gotion doesn’t appear to have gotten the memo.
This week, The Wire looks at Gotion High-Tech, its rapid growth, and its overseas expansion strategy, including to the
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