Volkswagen, Gotion deepen battery ties in Europe as VW sells 5.3% stake

Volkswagen AG

28/09/2026 14:16

BERLIN, Sept 28 (Reuters) - Volkswagen VOWG_p.DE on Monday said it would deepen its partnership with Gotion 002074.SZ and accelerate the development of a European battery supply chain through a series of joint ventures, while separately agreeing to sell a 5.3% equity stake in the Chinese battery maker.
After the transaction, Volkswagen will continue to hold a significant stake in Gotion, the company said in a statement.
The partners have agreed to set up three joint ventures in Valencia in Spain, Surany in Slovakia and Kenitra in Morocco, with Valencia to be developed into a European production hub for LFP batteries, it added.

 (Reporting by Rachel More, editing by Thomas Seythal)
 ((rachel.more@thomsonreuters.com;))