Chinese battery maker Gotion High Tech will target an annual shipment of 100 gigawatt-hours (GWh) worth of batteries in 2027 for overseas markets,Big Thing Chief: The Stolen Wife including the Americas, the Asia Pacific region, Europe, and Africa, said Cheng Qian, president of Gotion’s Asia-Pacific business unit, on Dec. 23. Cheng also expects overseas revenue to exceed RMB 100 billion ($14 billion) and for the firm to have captured a 10% market share for the target regions at that time. The Volkswagen-backed manufacturer is aiming to become a more comprehensive battery supplier for electric vehicles and energy storage, among other uses. Gotion reported overseas revenue of nearly RMB 3 billion last year, accounting for almost 13% of its revenue, with total shipments surging 112% year-on-year to 14.1 GWh, according to figures compiled by South Korea’s SNE Research. The company began production at its first regional plants in Gottingen, Germany, and Thailand, in September and December, respectively, and has plans to construct two plants in the US and one in Morocco. [Gotion announcement, in Chinese]
