According to the financial news on December 12 (reporters Liu Yue and Zeng Chuchu), the new energy wave sweeps the globe, the power battery market continues to grow, and the overseas layout pace of China's industry chain enterprises accelerates. Power battery manufacturer Gotion High-tech (002074.SZ) plans to invest in the construction of high-performance Lithium Battery and supporting projects with an annual output of 20GWh in Slovakia and Morocco, with a total investment not exceeding 2.514 billion euros (approximately 19.2 billion yuan).

Two announcements disclosed by Gotion High-tech in the evening show that the company plans to use its own and self-raised funds to invest in the construction of high-performance Lithium Battery and supporting projects with an annual output of 20GWh in Slovakia and Morocco, with total investments not exceeding 1.234 billion euros (approximately 9.4 billion yuan) and 1.28 billion euros (approximately 9.8 billion yuan) respectively. Earnings Reports show that as of the end of the third quarter, the company’s monetary funds amounted to 14.22 billion yuan, with a debt-to-asset ratio of 74.31%.

Gotion High-tech stated in the announcement that the construction of the battery production base in Morocco is based on the development prospects of the global new energy industry and Morocco's good industrial foundation and geographical advantages; the construction of the battery production base in Slovakia aims to achieve local autonomous supply of power batteries, covering the EU market.

In fact, the overseas layout has always been one of the company’s key strategic directions. Gotion High-tech stated on the interactive platform that the company has now formed three regional sectors: Asia-Pacific, Americas, and Europe-Africa. In terms of base construction, Pack factories in Germany, Thailand, and Silicon Valley in the USA have already been put into production. In addition, the lithium battery project in Illinois, USA, will be implemented in an orderly manner according to the company's overseas strategic plan.

Looking at the Lithium Battery industry chain, since the beginning of this year, related enterprises have frequently announced plans to set up factories abroad. Contemporary Amperex Technology (300750.SZ) made another significant move in building factories in Europe this Tuesday, partnering with Auto Manufacturers Stellantis to invest over 4 billion euros in the construction of a power battery factory in Spain; In August, GANFENGLITHIUM (002460.SZ) announced plans to build a battery factory in Turkey; In July, following overseas investment plans in Hungary and Morocco, Sunwoda Electronic (300207.SZ) plans to build its first consumer battery factory in Vietnam; Eve Energy Co., Ltd. (300014.SZ) plans to invest 3 billion to construct a storage battery and consumer battery manufacturing project in Malaysia; In June, Yunnan Energy New Material (002812.SZ) announced plans to build a new phase of the factory in Hungary; In March, Do-Fluoride New Materials (002407.SZ) announced plans to joint venture with a South Korean company to build lithium hexafluorophosphate production capacity in South Korea.

In addition, it is worth noting that this evening, Gotion High-tech also disclosed that its strategic shareholder Volkswagen China continues to waive voting rights. The announcement shows that the controlling shareholder of the company, Gotion Holdings, Li Zhan, and Li Chen (collectively referred to as "founding shareholders") signed a "Supplementary Agreement on the Shareholder Agreement of Gotion High-tech Co., Ltd." with the company’s strategic shareholder Volkswagen China, wherein Volkswagen China agrees to extend the commitment period of waiving voting rights, which means that within 72 months from the registration of the relevant shares under Volkswagen China's name involved in non-public offerings and share transfers, or for a longer period as determined by Volkswagen China, it will irrevocably waive the voting rights of a portion of company shares it holds, ensuring that Volkswagen China's voting rights proportion is at least 5% lower than that of the founding shareholders. This extension of the waiver of voting rights commitment period by Volkswagen China will not lead to a change in the company’s control or affect the normal production and operation of the company. Mr. Li Zhan remains the actual controller of the company.