Announced
Financials
Tags
China
Auto Parts
Private
automotive body parts
Minority
Single Bidder
Acquisition
Pending
lithium-ion batteries
battery electric vehicles
vehicle battery technologies
automotive accessories
auto paint
Friendly
Synopsis
Volkswagen agreed to acquire a 26% stake in Gotion High-Tech, a manufacturer of vehicle batteries for $1.2bn. “Together with strong and reliable partners, Volkswagen is strengthening its electrification strategy in China. The electric cars segment is growing rapidly and offers a great deal of potential for JAC Volkswagen. We are actively driving forward the development of battery cells in China through our strategic investment in Gotion,” Herbert Diess, Volkswagen CEO.
© COPYRIGHT 2024 MERGERLINKS LIMITED.
ALL RIGHTS RESERVED.
15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.