Chinese battery makers are expanding production into overseas markets where rivals such as Panasonic and LG Energy Solutions are more dominant.
Chinese battery maker Goshan High Tech Co said it plans to move a third of its production capacity outside China by 2025 to meet growing demand from foreign electric vehicle (EV) manufacturers and domestic energy storage customers.
The company, based in Hefei, Anhui province, said in a statement on Tuesday that it plans to build a total battery production capacity of 300 gigawatt hours (GWh) over three years, reiterating the target first announced last year. In 2021, Goshan produced 16 GWh.
The company said 100 GWh of its total capacity would be located overseas.
Chinese battery makers are expanding production into overseas markets where rivals such as Panasonic and LG Energy Solutions are more dominant.
Goshan’s move also follows Chinese competitor CATL, the world’s largest battery company, which aims to start cell production at its German plant by the end of the year. CATL president Zeng Yukun had earlier said that it was exploring the possibility of localizing production for foreign automakers in their countries.
Goschen, which counts Volkswagen as its biggest single investor, said it will begin building its first overseas battery plant in Göttingen, Germany, by the end of this year and aims to start production as soon as next September. Is.
The plant, which will be upgraded from an older facility GoShan purchased from Bosch last year, will develop and manufacture batteries for use in EVs and energy storage in Europe.
The company on Monday also unveiled its first line of energy storage products for overseas markets.
Goshan, the fourth largest EV battery maker in China by sales volume, supplies its lithium-iron phosphate batteries to car manufacturers including Volkswagen and the Tata Group.
(This story corrects the last sentence in the second paragraph to show 2021 output, not capacity)
(Reporting by Zhang Yan, Brenda Goh; Editing by Simon Cameron-Moore)
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