Gotion GmbH, the German subsidiary of Chinese battery manufacturer Gotion High-tech, has recently inked a memorandum of understanding (MOU) with Pod Point, a leading UK-based electric vehicle (EV) charging infrastructure provider. This collaboration aims to fortify Gotion's foothold in overseas markets, with a particular focus on the burgeoning home energy storage sector in Europe, including the UK.
Pod Point, established in 2009, has evolved into one of the largest EV charging infrastructure providers in the UK, boasting an impressive track record of delivering over 211,000 charging points and installing more than 188,000 home charging piles across the country.
The partnership between Gotion and Pod Point is poised to extend beyond geographical boundaries, as the two companies join forces in technology development and battery manufacturing. The primary objective is to create competitive home energy storage solutions that integrate renewable energy sources, such as photovoltaics. These solutions aim to cater to users' diverse needs, encompassing home electricity and vehicle charging, while also facilitating energy storage during periods of low electricity prices and clean power hours. The overarching goal is to curtail energy costs and reduce carbon emissions.
Gotion, backed by German automotive giant Volkswagen, will contribute its expertise in energy storage systems and cells based on the lithium iron phosphate battery product development, design, and manufacturing capabilities. Noteworthy participants in the MOU signing include European battery company InoBat and Brill Power, a provider of intelligent battery management platforms. InoBat, based in Slovakia, revealed in September that Gotion had acquired a 25 percent stake in the company.
The European market holds strategic importance for Gotion's global expansion strategy, with Steven Cai, Senior Vice President and CTO of Gotion, expressing enthusiasm about collaborating with Pod Point to develop competitive home battery solutions. The partnership is further strengthened by the involvement of InoBat and Brill Power, providing technical and business support.
Gotion's production facility in Germany, which commenced operations on September 16, represents a significant milestone. The plant's planned total capacity is 20 GWh, set to be realized in four phases. Once fully completed, the facility is anticipated to achieve an annual output of 2 billion euros, according to Cai's previous statements. Volkswagen China, having increased its stake in Gotion to 26.47 percent in December 2021, stands as the largest shareholder in the Chinese battery maker.