The total investment in the Slovakian project is not to exceed 1.234 billion euros, with an annual capacity of 20 GWh of lithium batteries, according to an exchange announcement yesterday.
The Slovakian plant will focus on battery manufacturing business and aim to realize local supply of power batteries to cover the EU market, it said. In June, the Slovak government approved 214 million euros in state aid to GIB, of which 150 million euros is in subsidies and 64 million euros in tax breaks.
The Slovakian plant will be built by Gotion InoBat Batteries (GIB) EnergyX Slovakia, which is 80 percent owned by Gotion and the other 20 percent by local battery company InoBat Auto jsa. Gotion acquired a 25 percent stake in InoBat last September.
4.1.3 4.1.3 Electricity imports reached 13,472 GW/h, with 13,079 GW/h exported. For the fifth consecutive year, the Slovakian electricity system has been dependent on imports, although this is mainly for commercial reasons rather than a lack of installed capacity.
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