Gotion High-tech Co., Ltd. Business Report FY ended Dec. 2023

Financial Overview

(CNY millions)

	FY ended Dec. 31, 2023	FY ended Dec. 31, 2022	Change (%)	Factors
Sales	31,605.49	23,051.70	37.11%	-Sales volume in 2023 increased by 63.67% y/y. Strong market demand led to the increase in sales volume.
Operating income	975.43	198.69	390.93%
Ordinary income	948.16	258.96	266.14%
Net income	969.10	365.64	165.04%

2024

-At its 13th Supplier Conference, Gotion High-tech unveiled its comprehensive strategies for 2024, focusing on quality, globalization, R&D, and supply chain. As part of its commitment to industry benchmarks, Gotion High-tech aims to establish a broad spectrum of quality indicators in 2024.

Noteworthy improvements are targeted, with a 58% reduction in defect rates, a 76% decrease in 0-km defects, and a 55% drop in 3MIS (Months in Service) indicators compared to the previous year. Gearing towards global market breakthroughs in 2024, Gotion High-tech is set to target three major regions: America, Europe-Africa, and Asia-Pacific. Overseas deliveries of battery products are projected to exceed 100GWh by 2027.

In 2024, Gotion High-tech will intensify its efforts on materials R&D, advancing the development and industrialization of cathode and anode materials. Customization of electrolytes and separator materials, establishment of a materials database, and forward-looking material development will be emphasized. In respect to the supply chain, Gotion High-tech is determined to build a green and sustainable supply chain that meets social responsibility and environmental requirements.

(From a press release dated December 23, 2023)

New products

Three new batteries
-Gotion High-tech unveiled three new batteries at its 13th technology conference, namely, the G-Current 5C ultra-fast charging battery, the Stellary cylindrical high-nickel NCM (nickel-cobalt-manganese) battery, and the Gemstone all-solid-state battery.

Delivering a battery capacity replenishment of 80% on a 9.8-minute charge and 90% on a 15-minute charge, the G-Current battery is suitable for all types of vehicles such as battery electric and range-extended vehicles, covering LFP (lithium-iron phosphate), LMFP (lithium manganese iron phosphate), and NCM chemistry systems. The battery pack with G-Current cells employs multiple innovative designs and safety applications: an ultra-large module-free design that reduces the quantity of components by 30%; an ultra-thin Z-shaped design that enables compatibility with models such as coupes and SUVs; a directly connected BMS+FDC design that reduces the quantity of harnesses by 80%; and other designs such as nano heat insulation and ceramic composite insulation that realize zero heat diffusion among the cells.
The Stellary battery, Gotion High-tech’s latest large cylindrical 46-series NCM battery, has high energy density and ultra-long service life and supports 4C fast charging. The company’s 7th plant will be the manufacturer. Adopting a Gotion High-tech in-house developed 2nd-generation silicon-carbon material, a fast-charging electrolyte, cascade electrodes, and new structural components, the battery realizes high cell energy density and fast charging. It delivers a mass energy density of 285Wh/kg, a volume energy density of 775Wh/L, and a service life of 70% after 2,500 cycles at room temperature. In 4C fast charging mode, it can be charged from 10% to 70% battery capacity in 9 minutes.
The Gemstone 30Ah all-solid-state battery with a mass energy density of 350Wh/kg, a volume energy density of 800Wh/L, and a cell cycle life of over 3,000 cycles has passed high-temperature chamber testing at 200 degrees Celsius in one go. The battery pack designed based on this battery comes with a mass modularization efficiency of 80%, a system energy density of 280Wh/kg, and a range of 1,000km on a single charge.

(From a Gotion High-tech press release dated May 17, 2024)

-Gotion High-tech announced that it unveiled the new L600 lithium-manganese-iron-phosphate (LMFP) Astroinno battery, with mass production set to begin in 2024. The battery has a weight energy density of 240Wh/kg, a volume energy density of 525Wh/L, a cycle life of 4,000 cycles at room temperature, and a cycle life of 1,800 times at high temperatures. Its fast charging can be completed in 18 minutes and has passed all safety tests. Its design reduces the number of structural parts in the battery pack by 45% and lowers the weight of structural parts by 32%. The length of the battery pack wiring harness drops to 80m, while the volumetric cell to pack ratio has reached 76% and the pack energy density has reached 190Wh/kg. According to Gotion High-tech, Astroinno battery pack marks the industry-first product that enables a range of 1,000km without relying on NCM materials. (From a press release dated May 20, 2023)

Acquisition

-The Company acquired a 25% strategic cornerstone stake in InoBat AS. InoBat delivers bespoke customized high-performance NMC batteries with its proprietary C2C circular value-chain development platform. Gotion-InoBat-Batteries (GIB) transaction is the first such major investment by a top-tier Chinese global battery maker in a European premier startup. GIB will utilize a transformative development approach and focus on the localization of the battery value chain for its customers, with an initial focus on the CEE locations, and Morocco for the creation of green battery materials. Gotion High-Tech has committed significant capital and technology support to ensure and safeguard InoBat’s success of the GIB framework. This investment paves the way for superior R&D and giga-scale transformative localized battery value chains in Europe, the Middle East, and Africa. (Based on InoBat press release dated September 1, 2023)

New projects

Country	Details
Thai	NV Gotion, a Gotion High-tech Thai joint venture (JV), saw its first battery product roll off the production line. This product, a lithium-iron phosphate battery pack, has a capacity of 38kWh and delivers a range of 400km, meeting the mainstream requirements of the Thai New Energy Vehicle market for the battery of an A-class vehicle. The first phase of the Gotion High-tech Thai Plant has a planned annual capacity of 2GWH, which will be expanded to 8GWh in the future according to market demand. NV Gotion is a JV between Gotion High-tech, a leading Chinese power battery manufacturer, and Nuovo Plus, a Thai New Energy solution company. (From a Gotion High-tech press release dated December 7, 2023)
Slovakia	Gotion InoBat Batteries (GIB) signed a memorandum of understanding (MoU) with the Slovak government for the construction of a battery factory in Šurany. GIB committed to starting the construction of the factory in 2024. GIB is a joint venture of Gotion High Tech and Inobat. The government of the Slovak Republic, represented by the Ministry of Economy of the Slovak Republic, pledged to provide subsidies, arrange the land, prepare the construction site, and ensure the connection to the electrical grid. The Šurany factory will be located in a 65-hectare area and will create thousands of jobs. In the initial development stage, it will have a capacity of 20 GWh, but it has the potential to reach a capacity of up to 40 GWh. The targeted start of production is in Q2/2026 and full-scale production is scheduled for 2027. (Based on InoBat press release on November 22, 2023)
Slovakia	InoBat AS announced that the future Gotion InoBat Batteries gigafactory is expected to have in the first development stage a capacity of 20GWh and will bring thousands of jobs locally. Construction of the factory is expected to begin in 2024. The future gigafactory should cover an area of more than 100 hectares, with a full launch expected by 2026. InoBat recently signed a pre-joint venture agreement with Gotion High-Tech to build a gigafactory for the production of batteries. Gotion High-tech Co., Ltd. (Gotion High-tech) also plans to develop Europe’s largest Agri-Solar power plant to supply its giga factory with green power as part of this investment program. (Based on InoBat press release dated September 18, 2023)
Germany	Gotion High-tech Co., Ltd. (Gotion High-tech) announced that the first automated production line for battery packs at its German facility in Göttingen was officially put into operation. The Göttingen plant will manufacture battery packs for commercial vehicles, energy storage systems, and passenger cars. The current production capacity plan for the Göttingen factory is 20GWh, which is expected to be completed in four phases. Once fully operational, it is expected to generate an annual output value of EUR 2 billion. The plant is expected to supply products for European customers from October. By mid-2024, the actual production capacity may reach 5GWh. In addition, Gotion High-tech signed cooperation agreements with five internationally renowned companies, including BASF, ABB, Ebusco, Ficosa, and Idneo, covering various aspects such as battery materials, product development, and the supply of automotive and energy storage products. (From a press release dated September 17, 2023)
U.S.	ABB signed a Memorandum of Understanding (MoU) with Gotion High-Tech at Gotion’s first battery manufacturing factory in Göttingen, Germany. The collaboration aims to support the construction of lithium-ion battery factories to serve the European and US electric vehicle (EV) markets. Under the agreement, ABB will collaborate with Gotion High-Tech to supply a master design plan combining automation, electrification, and digital technologies. Gotion High-Tech is set to open a USD 2 billion lithium battery plant in Illinois and is also considering a factory in Morocco. The collaboration will introduce ABB products and services into Gotion High-Tech and explore a research and development (R&D) partnership. They will also explore how Gotion High-Tech's battery cells, modules, and packs could be supplied to ABB and its affiliates. ABB solutions, based on ABB’s Plant Optimization Methodology for battery manufacturing, would increase throughput with a higher level of automation, optimization, and emission control in Gotion High-Tech’s factories. ABB’s electrification would provide Gotion High-Tech with integrated, modular power distribution solutions that are standardized, scalable, and replicable. (Based on ABB press release on December 12, 2023)
	Gotion will build a plant in the US state of Michigan, which will provide materials to supply a planned battery factory nearby. The battery maker will invest some USD 2.36 billion on the facility, with construction expected to be completed by year-end 2031. It will produce anode and cathode materials for lithium-ion EV batteries. Production capacity has not yet been disclosed. The company is also building a USD 2 billion factory in the nearby state of Illinois, where operations are slated to commence in 2024. The company is expanding its US operations to satisfy the provisions of the US Inflation Reduction Act (IRA). Consumers can receive tax incentives if 50% or more of the vehicle’s battery components are manufactured and assembled in North America. (Multiple sources on October 26, 2023)
	Gotion High Tech Co. said its wholly-owned U.S. subsidiary has signed agreements to purchase real estate including land and factories for an EV battery assembly project it intends to build in Illinois. Gotion disclosed the information in a statement posted on the Shenzhen Stock Exchange, noting that the state of Illinois will also provide funding for the project along with strategic investors, saying “The final investment amount and subsidy amount will be subject to the actual investment situation”. Its U.S. subsidiary previously signed an agreement to receive tax benefits from Illinois under which the state will provide subsidies for the battery project. The Illinois facility is expected to produce battery packs with components produced at Gotion’s yet-to-be-constructed factory in Big Rapids, Michigan. The project will benefit from provisions in the Inflation Reduction Act and other U.S. rules that incentivize local lithium battery production, Gotion noted in the statement. However, China’s role as an indirect beneficiary of the IRA continues to face scrutiny from some members of Congress, who fear too much U.S. technology is being shared with China, as well as funding support. (multiple sources on October 12, 2023)
	Gotion Inc. announced it has completed a critical step in the purchase of 270 acres in the area of Big Rapids, Michigan for a USD 2.4 billion plant which will produce anode and cathode materials for lithium-ion batteries. In addition to the 270 acres, a few nearby homes were included, but the company's purchase of land is scaled back from its original plans. Gotion announced its plans for a battery materials plant in Big Rapids in October, but met with criticism in changing the zoning from agricultural to industrial, and its ties to China. Gotion will next finalize the site plan and continue preparing environmental studies for a review by the Michigan Department of Environment, Great Lakes and Energy. The project is expected to create 2,350 jobs and is slated to receive more than USD 800 million in incentives. (Detroit News article on August 1, 2023)
	According to Detroit News and other reports, Gotion Inc., a U.S. subsidiary of China-based Gotion High-Tech Co. Ltd., will move forward with a USD 2.4 billion battery parts plant near Big Rapids, Michigan after receiving results from a federal review looking into potential national security risks. Gotion said in a statement that the Committee on Foreign Investment in the United States (CIFUS) determined in its review that its proposed purchase of land in Green Township "is not a covered real estate transaction and is not a covered transaction under the Defense Production Act of 1950". Gotion's plan for EV factory near Big Rapids, which will produce anode and cathode materials for lithium-ion batteries in EVs, includes four buildings spanning 2 million square feet. The company had paused pre-development activity during the CFIUS review, including environmental permitting and a request to rezone 184 acres adjacent to the 245 acres already zoned industrial. Though remaining controversial with some state residents, the process will now continue, with construction, which was expected to start this summer, to take two years to complete. (Detroit News and multiple sources on June 13, 2023)
Morocco	The Ministry of Investment, Convergence and Evaluation of Public Policies, Morocco announced that Moroccan State and the Sino-European group Gotion High-tech signed a memorandum of understanding (MoU) to establish a "Giga Factory" in Morocco. Under this MoU, Gotion High-tech intends to establish an integrated industrial system for the production of batteries and various accompanying equipment, with an investment of MAD 65 billion, which will create more than 25,000 jobs. (Based on social media updates from the Ministry of Investment, Convergence and Evaluation of Public Policies)

Strategic alliance

CATARC Europe Testing and Certification GmbH	Gotion High-tech Co., Ltd. (Gotion High-tech) signed a memorandum of understanding (MoU) with CATARC Europe Testing and Certification GmbH (CATARC Europe) in Munich, Germany, to be jointly committed to strengthening cooperation in Europe’s battery testing, certification, and recycling industries. According to the MoU, the two parties will: partner for battery testing and certification to improve standards for battery quality and safety; work together on industry standards and regulations to promote technology innovation and sustainable growth in the industry; conduct joint market research to enhance the market presence and adoption of Gotion High-tech lithium batteries; explore eco-friendly practices and technologies for the lifecycle management of lithium batteries, including recycling and reuse strategies, for sustainable utilization of resources; and organize joint seminars, workshops, and training programs to facilitate talented personnel cultivation and knowledge exchange in the industry. (From a Gotion High-tech press release dated April 28, 2024)
NETA	PT NETA Auto Indonesia (NETA) announced its official collaboration with PT Gotion Green Energy Solutions Indonesia for the provision of EV batteries, as both sides inked an MOU at PT Handal Indonesia Motor in Bekasi, West Java. This partnership strengthens NETA's commitment to increasing domestic component content (TKDN) for NETA V and other models in the future. PT Gotion will be the supplier of Lithium Iron Phosphate (LFP) batteries for NETA's EVs. This followed NETA’s recent announcement on the local BEV production in Indonesia starting May 2024. (From NETA Indonesia press release on March 18, 2024)
SGMW	Gotion High-tech Co., Ltd. (Gotion High-tech) announced that it reached an agreement with SAIC-GM-Wuling (SGMW) on fully and continuously deepening their partnership in 2024. Starting from the market and ecosystem sides, the two parties will cooperate closely on user concerns such as vehicle range, charging, and power to make proper adjustments to battery cell R&D and strive to provide New Energy Vehicle batteries with higher quality, efficiency, and reliability for users. The two parties will also focus on ramping up battery cell production capacity for cost leadership and achieve joint ownership of intellectual property based on the co-development of markets and user requirements. (From a Gotion High-tech press release dated February 23, 2024)
Chery	Gotion High-tech Co., Ltd. (Gotion High-tech) announced the signing of a strategic cooperation agreement between Hefei Gotion High-tech Power Energy Co., Ltd. (Hefei Gotion), a wholly-owned subsidiary, and Chery Automobile Co., Ltd. (Chery). The two parties plan to conduct comprehensive cooperation in the fields of passenger and commercial vehicles to co-develop the New Energy Vehicle (NEV) market. According to the agreement, both parties will conduct comprehensive cooperation on Chery projects covering passenger vehicles, large buses, logistics vehicles, heavy trucks, and more. Hefei Gotion will be involved in project development and material supply as the major supplier. Chery will introduce advanced battery technologies such as the 3rd-generation Gotion High-tech battery cell. It will strengthen cooperation with Hefei Gotion in areas such as battery platformization, battery cell consistency and safety, and battery big data. Furthermore, they will co-develop overseas NEV markets and partner for energy storage, electric ships, ESG, and carbon emission reduction. (From a Gotion High-tech press release dated January 8, 2024)
FAW Jiefang	FAW Jiefang announced the signing of a memorandum of understanding (MoU) on an Indonesian site and electric heavy trucks with PT. Gotion Indonesia Materials (Gotion Indonesia), a subsidiary of Gotion High-tech Co., Ltd. The two parties aim at establishing a comprehensively deepened partnership based on their respective resources, expertise, and experience. They will co-develop the Indonesian electric truck market to provide Chinese and local enterprises in Indonesia with high-cost-performance New Energy Vehicle solutions. The two parties also intend to jointly promote the construction of local assembly lines in Indonesia to improve supply efficiency, reduce vehicle costs, and enhance market competitiveness. (From an FAW Jiefang press release dated December 8, 2023)
Farizon, Afanti Group	Gotion High-tech Co., Ltd. (Gotion High-tech) announced the signing of a strategic cooperation agreement among Hefei Gotion High-tech Power Energy Co., Ltd. (Hefei Gotion), a wholly-owned subsidiary, Farizon New Energy Commercial Vehicles Group (Farizon), and Afanti New Energy Group (Afanti Group). Farizon and Hefei Gotion will jointly advance the industrial application of New Energy Vehicle (NEV) power battery systems to strengthen both parties’ competitiveness in the NEV industry. Afanti Group will promote Farizon New Energy commercial vehicles powered by a Gotion High-tech lithium-iron phosphate battery in the next five years. In addition, the three parties will explore business and operation models for vehicle-battery separation, battery banks, construction of energy storage stations integrating photovoltaic power generation, energy storage, and charging, and construction of standardized battery swapping stations for urban distribution vehicles. (From a Gotion High-tech press release dated December 8, 2023)
Cao Cao Mobility	Gotion High-tech Co., Ltd. (Gotion High-tech) announced the signing of a strategic cooperation agreement with Cao Cao Mobility. With customized vehicles for shared mobility as a starting point, the two parties will conduct comprehensive cooperation at business and capital levels to jointly promote the establishment of a New Energy ecosystem for the shared mobility industry. The former pointed out that they will conduct all-round, in-depth strategic cooperation on the whole battery industrial chain ecosystem, while the latter pointed out that they will focus on providing superior mobility services and experiences with customized vehicles at the core. (From a Gotion High-tech press release dated October 27, 2023)
BASF	Gotion High-tech Co., Ltd. (Gotion High-tech) announced that it signed a strategic cooperation agreement with BASF, aiming to further strengthen cooperation in the field of materials science by combining the technological advantages of both parties to jointly promote material innovations and technological progress in power battery materials. According to the agreement, both parties will, on the basis of the original cooperation, further expand cooperation fields and jointly develop and promote the application of relevant chemical materials in the battery field. (From a Gotion High-tech press release dated July 10, 2023)
Siemens digital Industries Software	Siemens Digital Industries Software announced that Gotion High-tech Co., Ltd. (Gotion) has selected the Siemens Xcelerator portfolio of industry software to build an intelligent battery manufacturing platform as part of achieving its digital transformation goals. According to the agreement, Gotion High-tech, in collaboration with Siemens, plans to explore the application of digital twins and battery-specific digital threads in product research and development, production and manufacturing, and technical services. Gotion High-tech intends to use AI-enabled industrial control system technology to build a closed-loop digital research and development, manufacturing, and management platform. This new platform will help further strengthen Gotion's intelligent manufacturing of batteries and pave the way for future digital development. (From a press release dated September 14, 2023)
InoBat	Gotion High-tech Co., Ltd. (Gotion High-tech) announced that its subsidiary, Hefei Gotion High-tech Power Energy Co., Ltd., signed a memorandum of understanding (MoU) with InoBat, a European battery supplier. The two firms will establish a joint venture which produces up to 40GWh of battery cells and packs annually. They will also form a technical partnership leveraging their respective advantages of LFP and ternary batteries. Furthermore, they will forge a technology and commercial partnership in facility operations, and investigate recycling concepts for production scrap and end-of-life batteries. (From a press release dated February 7, 2023)

Orders

Sany	Gotion Hi-Tech announced that the Sany's Jiangshan SE equipped with its Mota MTB battery has rolled off the assembly line in Changsha, Hunan Province. With the introduction of this battery, the replaceable battery capacity of large electric trucks has increased from 350kWh to 473kWh. Sany's Jiangshan SE is equipped with the industry's first Mota MTB (Module to Bracket) battery for large trucks, jointly developed with Gotion Hi-Tech. ・This solution integrates the battery directly into the chassis, improving volumetric energy density and space utilization rate compared to traditional battery boxes, while simultaneously increasing the vehicle's loading space and transportation capacity. The battery's thermal management performance is also improved, enhancing the safety and reliability of transportation in various environments. ・In addition, Gotion Hi-Tech is working with Sany to develop MTB2.0 and MTB3.0 products, with the MTB2.0 product scheduled to be launched on the market in 2024. (From Gotion High-Tech's official WeChat account dated April 1, 2024)
VW	Gotion High-tech Co., Ltd. (Gotion High-tech) announced that it has received a purchase designation letter from Volkswagenwerk AG (VW) to become a designated supplier to VW of “Unified Cells” for lithium-ion phosphate power battery products in overseas markets. (From a Gotion High-tech SZSE press release dated May 11, 2023)
Geely	Gotion High-tech Co., Ltd. (Gotion High-tech) announced that it has supplied batteries to 12,350 Panda Mini EVs, a model manufactured by Geely. The Panda Mini is currently available in 2 variants with a range of 120km and 200km respectively, both of which are powered by lithium iron phosphate (LFP) batteries from Gotion High-tech. The battery that supports a 200km range is the main product of Gotion High-tech. It features excellent safety and a long service life. It can be charged more than 1,500 times. At room temperature, the battery can be charged from 30% to 80% in 30 minutes. (From a press release dated April 4, 2023)
Nano Box	Gotion High-tech Co., Ltd. (Gotion High-tech) announced that it will power batteries for eGT’s Nano Box. The Qingfeng edition of the Nano Box is available in three models, all of which are all equipped with a Gotion High-tech lithium iron phosphate battery. (From a Gotion High-tech press release dated February 1, 2023)
Neta	Gotion High-tech Co., Ltd. (Gotion High-tech) announced on the Q&A platform of the Shenzhen Stock Exchange that it will supply battery packs to Neta in 2023. (Based on the Shenzhen Stock Exchange Q&A platform dated January 2, 2023)

Lithium ore

-Gotion High-tech Co., Ltd. (Gotion High-tech) announced that its controlling subsidiary, Jiangxi Huayou Mining Co., Ltd. (Huayou Mining), obtained another mining license in Yichun, Jiangxi Province. It represents the third mining right that Gotion High-tech has secured in Yichun. Located in Jingang Village, Shangfu Town, Fengxin County, the mine has not been exploited for many years and covers an area of 35,003 square kilometers. The mining right will be extended until 2025. The production capacity is designed to be 50,000 tons per year. Additional production capacity is currently being planned. (From a press release dated August 21, 2023)

Exhibitions

-Gotion High-tech Co., Ltd. (Gotion High-tech) announced that it exhibited multiple products such as 3rd-generation battery cells at the 2023 World Manufacturing Convention (WMC) held in Hefei, Anhui. The representative of these 3rd-generation battery cells is Unified Cell, a battery cell developed by Gotion High-tech for VW Group’s regular production models. Adopting uniform design standards, the product has been greatly reduced in costs and is expected to cover 80% of VW electric models in the future. Other exhibits included the M300 and M600 manganese-based batteries, which have been effectively enhanced in energy density, safety, and fast charging and cycle performance with the use of manganese materials; the L300 and L600 batteries for passenger vehicles, which have been effectively enhanced in energy density by incorporating manganese; the 4695 and 46120 large cylindrical battery cells, which have a maximum energy density of 310Wh/kg and enable 15-minute super-fast charging; and the Qichen L600 lithium manganese iron phosphate (LMFP) battery cell, which has a mass energy density of 240Wh/kg, a volume energy density of 525Wh/kg, a room temperature cycle life of 4,000 cycles, and a high temperature cycle life of 1,800 cycles, and enables 18-minute fast charging. (From a Gotion High-tech press release dated September 22, 2023)

R&D Expense

	FY ended Dec. 31, 2023	FY ended Dec. 31, 2022	FY ended Dec. 31, 2021
R&D expense (CNY millions)	2,768.00	2,415.91	1,166.63
Ratio of R&D expenses to Sales (%)	8.76%	10.48%	11.27%

-In 2023, the Company had 3,131 R&D personnel, accounting for 13.65% of its workforce.

R&D Centers

-Gotion High-tech Co., Ltd. (Gotion High-tech) announced that Gotion High-tech (HK) Ltd. (Gotion HK), a wholly-owned subsidiary, formed a partnership with Envision Greenwise Holdings Ltd. (Envision Greenwise) to establish a joint research institute for low carbon in Hong Kong. According to the agreement, Gotion HK and Envision Greenwise will jointly establish the Gotion-Envision Low Carbon Research Institute.

They will conduct joint research on new technologies and business models for battery energy storage systems and promote the worldwide R&D innovation, industrial application, and market trading of low carbon technology.

(From a Gotion High-tech press release dated February 20, 2024)

-Gotion High-tech Co., Ltd. (Gotion High-tech) announced that it signed an agreement with Tongji University to build a joint research institute for NEV (New Energy Vehicle) battery technology.

Per the agreement, the two parties will leverage their respective strengths in technological innovations and industrial applications to jointly make breakthroughs and build an automotive battery technology service platform.

Key research topics include new battery materials and structures, battery structure integration and weight reduction, and intelligent and comprehensive management of battery health.

(From a press release dated December 30, 2023)

-Gotion High-tech Co., Ltd. (Gotion High-tech) announced the official establishment of an advanced battery technology joint research center with Fudan University in Shanghai. According to the agreement, the two parties will conduct joint R&D and exchange views on projects for advanced materials and battery technologies such as sodium-ion batteries, heat-insulating materials, and LMFP materials. (From a Gotion High-tech press release dated August 10, 2023)

-Gotion High-tech Co., Ltd. (Gotion High-tech) announced that it signed a cooperation agreement with the University of Science and Technology of China (USTC) in Hefei. In an effort to promote applications and commercialization of technological achievements, the two parties will set up a joint lab for innovative batteries where they will conduct research on basic, advanced, and core technologies related to innovative lithium batteries. The joint lab will be located at USTC. Gotion High-tech Engineering Research Institute and Carbon Neutral Research Institute of USTC will be in charge of the construction. (From a press release dated March 1, 2023)

-Gotion High-tech Co., Ltd. (Gotion High-tech) announced that it has obtained a battery cell testing lab qualification from VW Group. Covering an area of over 60,000 square meters, the Gotion High-tech Validation Engineering Institute has so far built four validation sites in Xinzhan of Hefei, Baohe, Lujiang, and Jiading of Shanghai, and boasts four testing platforms for testing of battery materials and parts, battery cells, systems, and safety and reliability, enabling full-scale, full-lifecycle validation, testing and analysis from battery raw materials to battery systems. (From a Gotion High-tech press release dated February 21, 2023)

-The Company focuses on research and development of automotive lithium batteries. It has established R&D centers in Shanghai and Hefei in China; Tsukuba City, Japan; Singapore; and Silicon Valley and Cleveland, U.S.A. It has a Chinese state-certified enterprise technology center, a Chinese national post-doctoral scientific research workstation, a Chinese national-class CNAS-approved laboratory, an Anhui Province academician workstation, and an Anhui Province engineering laboratory.

-The company announced the establishment of its Tangshan Engineering Research Institute. Backed by Gotion High-tech Engineering Research Institute Headquarters, the Tangshan Engineering Research Institute will conduct all-round research on battery materials, battery manufacturing processes, battery modularization, product failure mode analysis and prevention, and product performance testing. (From a press release dated October 25, 2021)

Patents

-As of the end of December 2023, the company has applied for a total of 8,083 patents, including 3,573 invention patents (including 242 foreign patents).