China's Gotion High Tech Invests in Slovak EV Plant

China's Gotion High Tech and InoBat from Slovakia are set to invest 1.2 billion euros in a joint electric vehicle battery plant in Slovakia, receiving significant subsidies and tax breaks. The project aims to start production in 2027, reaching full capacity by mid-2027, contributing to Slovakia's electromobility sector and creating over 1,300 job opportunities. Additionally, RIPLEnergy and GIB EnergyX plan to co-develop a battery assembly plant in Nigeria, focusing on sustainable energy initiatives and promoting environmental stewardship. The investment in Slovakia's EV battery plant marks a significant stride in European efforts to strengthen the EV battery industry and reduce reliance on Asian manufacturers.