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VW-backed Gotion to supply lithium-ion batteries to Great Wall Motors

Chinese automaker Great Wall Motors has signed a framework agreement with battery maker Gotion High-Tech to supply battery packs for its electric vehicles with an initial capacity of over 10 gigawatt-hours (GWh) from 2022 to 2025, according to an announcement released Tuesday. The deal reflects a trend in the booming EV industry in which auto manufacturers are racing to put capacity in place to meet surging demand. Gotion, whose biggest shareholder is Volkswagen with 26%, in July revealed plans to build a battery plant with the auto giant in Germany. [Gotion statement, in Chinese]

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