Slovakia Signs €1.233 Billion Investment Contract for EV Battery Plant with InoBat and Gotion Group
Slovakia has inked an investment deal worth €1.233 billion with the consortium of companies InoBat and Gotion Group for the construction of an electric vehicle battery production plant. Economy Minister Denisa Sakova announced the agreement at a news conference on Thursday.
The new facility, operated by GIB EnergyX Slovakia in Surany, Nitra region, will receive €214 million in state investment aid. This includes €150 million in subsidies and €64 million in income tax relief.
GIB EnergyX, a joint venture between China's Gotion Group and Slovakia's InoBat, plans to employ 1,311 people by 2027. The production facility will focus on manufacturing lithium-iron-phosphate car batteries, with operations set to begin in January 2027 and full capacity expected by June 2027. The plant’s entire output will be exported to the EU market.
Gotion Group, one of the top three global battery conglomerates and the exclusive supplier for Volkswagen outside of China, employed 23,000 people worldwide in 2023 and reported a turnover of €3.9 billion.
