AI borrowing, online growth and major Valencia battery investment
Technology, trade and investment dominate the latest round of European business news, with artificial intelligence driving fresh borrowing while e-commerce […]
Chinese battery maker Gotion is investing €1.1 billion in Volkswagen's battery plant in Valencia, taking a 49% stake in the project. Volkswagen will retain 51% control, with the partnership bolstering cooperation between the German automaker and Gotion in Europe. The Valencia factory will focus on producing lithium iron phosphate (LFP) batteries, commonly used in electric vehicles.
This investment strengthens Gotion's foothold in the European battery market and supports Valencia's growing role in Europe's electric vehicle industry.
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