TapTechNews June 21 news, integrating reports from Xinhua News Agency and Reuters. Slovakian Minister of Economy Denisa Sakova announced on the 20th local time that the Slovakian government approved to provide 214 million euros (about 166.8 million yuan currently) national aid to the battery company Gotion InoBat Batteries (GIB), including 150 million euros (about 116.9 million yuan currently) as subsidy and 64 million euros (about 49.9 million yuan currently) as income tax exemption.
TapTechNews note: GIB is a joint venture established by Gotion High-Tech and its Slovakian partner, battery manufacturer Inobat.
It is reported that GIB plans to invest nearly 1.2 billion euros (about 935.5 million yuan currently) to build an electric vehicle battery factory in Surany, Slovakia. Denisa Sakova said that this will be the second largest investment project in Slovakian history. This will strengthen our position in the electric vehicle field, create new employment opportunities, and support the career development of our employees.
According to the statement, the factory is expected to start production in January 2027 and reach full production capacity in June of the same year, and all products will be exported to the EU market. Currently, automobile production is a major part of the Slovakian economy, and this factory is expected to create more than 1300 employment opportunities for the local area.
It is worth noting that this will be Gotion High-Tech's fifth overseas factory, and the other four are located in Germany, Vietnam, Thailand, and the United States.