Volkswagen to acquire a 26% stake in Gotion High-Tech for $1.2bn.

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.