Market Chatter: Volkswagen in Advanced Talks with Gotion for Stake in Spanish Battery Plant

MT Newswires Live

Jul 28

Chinese battery maker Gotion is in advanced talks to take a majority stake in Volkswagen's Sagunto battery plant, following site visits by Gotion's CEO Li Zhen, La Tribuna de Automocion reported on Monday, citing industry sources.

The proposed joint venture would leave VW's PowerCo as a minority partner, while the factory remains critical for supplying VW's European EV production at Seat Martorell, Navarra, and Palmela, the Spanish trae publication said.

Negotiations have progressed smoothly over months, though both companies have yet to officially confirm the deal, the report said.

Volkswagen and Gotion did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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