The Slovak government signed a memorandum of understanding on Thursday with Chinese electric vehicle battery maker Gotion High-Tech and its local partner, InoBat, to build a car battery plant in Slovakia.
SLOVAK PM LOOKS TO CURB MIGRATION BY DEPLOYING FORCES TO HUNGARIAN BORDER
The two companies formed Gotion InoBat Batteries, a Chinese-Slovak venture to build the plant in the town of Surany, about 60 miles east of Bratislava. It should create about 1,500 jobs and become operational in 2026 with an initial production of 20GWh.
The Slovak flag is photographed against a clear sky. (Photo by Artur Widak/NurPhoto via Getty Images)
Financial details about the investment were not given.
German car giant Volkswagen is the largest shareholder in Gotion High-Tech with a 24.77% stake. Volkswagen has a car plant in Slovakia.
CLICK HERE TO GET THE FOX NEWS APP
Gotion High-Tech began production in its first European plant in Göttingen, Germany, in September.
