Chinese carmaker “Yijete” has attracted the attention of the automotive market recently with the release of its light pure-electric SUV series “Nano-BOX”. Since Chinese battery manufacturer Gotion Hi-Tech provides batteries for the Nano-Box series, it is technically a supply partner of Renault-Nissan-Mitsubishi.
There are three models under the Nano-BOX series, and they are all powered by the LFP batteries supplied by Gotion. The battery manufacturer stated that after years of conducting research in the field of LFP batteries, it is now able to build products that are consistent in quality, safe, and economical. Furthermore, Gotion has significantly raised the energy density of its LFP offerings so as to effectively mitigate the often brought-up issue of range anxiety. Two of the Nano-BOX models can complete 30-80% charge in around 30 minutes when switched to the fast-charging mode and 100% charge in around three hours when switched to the slow-charging mode.
Established in 2017, Yijete is a joint venture between Chinese automotive giant Dongfeng and the electric car alliance of Renault, Nissan, and Mitsubishi. Therefore, suppliers to Yijete also participate in the alliance’s supply chain. In 2021, Gotion’s products successfully completed the alliance’s qualification process. Therefore, the installation of the batteries for the Nano-Box series is the formal recognition of Gotion’s place within the alliance’s supply chain. Shipments of batteries used in the alliance’s vehicle models have been realized.
Gotion also pointed out that the alliance’s technological standards for various systems of an electric car are in line with the corresponding standards of many regional markets. Therefore, it is possible for Gotion to further collaborate with the alliance at the global level in the future.
Gotion was officially listed on the SWX Swiss Exchange on July 28, 2022. As of now, its overseas clients include Germany’s Volkswagen Group, India’s Tata Motors, Vietnam’s VinFast, and an undisclosed US carmaker that is listed and considered a major player.
In November 2022, Vingroup broke ground on a new battery manufacturing plant in Hah Tinh, a province in the north central coast of Vietnam. Vingroup is the largest private conglomerate in Vietnam, and its subsidiary VinES Energy Solutions is a joint venture with Gotion. Gotion has a 51% stake in VinES Energy Solutions.
The battery manufacturing plant in Hah Tinh entails an investment of around VND 630 billion (USD 254 million) and is being built in multiple phases. The first phase comprises 5GWh of annual production capacity and is scheduled to enter operation near the end of 2023 and then begin mass production in the third quarter of 2024. The plant will manufacture LFP batteries and is the first of its kind in the country.
Also, on December 15, 2022, Gotion signed a cooperation agreement with Nuovo Plus to form a joint venture that is provisionally named “Thailand New Gotion”. Nouvo Plus is energy solution provider operating under Thailand’s PPT Group. The joint venture plans to set up a production line located in Thailand’s Eastern Economic Corridor. The line will manufacture Li-ion battery packs and is scheduled to enter operation in the fourth quarter of 2023. The investment in Thailand New Gotion is estimated around THB 600 million (CNY 120 million). The new company focuses on the design, production, and certification of battery packs and battery management systems that are deployed in a wide range of application scenarios (e.g., electric mobility and energy storage).
This article is a translation of a Chinese article posted by Marry at TrendForce. It contains information that is either sourced from other news outlets or accessible in the public domain. Some Chinese names are transcribed into English using Hanyu Pinyin.
(Image Source: Gotion Hi-Tech)
