Guoxuan High-Tech Announces €2.5 Billion Investment in Battery Production Bases in Slovakia and Morocco

On the evening of December 12, Guoxuan High-Tech announced two major investments to establish new energy battery production bases in Slovakia and Morocco, with a total budget not exceeding €2.514 billion (approximately 191 billion yuan).

Specifically, Guoxuan plans to invest in Slovakia to build a high-performance lithium battery production facility with an annual capacity of 20GWh, with an estimated total investment not exceeding €1.234 billion. Simultaneously, the company also plans to invest in Morocco to establish a similarly sized facility, with an estimated total investment not exceeding €1.28 billion.

The 20GWh project in Slovakia will be implemented by Guoxuan's holding subsidiary, GIB EnergyX Slovakia s.r.o. (GIB). Established on November 22, 2023, with a registered capital of €5,000, its business scope includes the production and sale of power batteries and their raw materials. The construction of the new energy battery super factory in Slovakia is planned to be phased, with completion expected within three years. Currently, the project is in the preparatory stage, with total investment and construction timeline data being preliminary estimates, with specific details to be adjusted based on actual conditions.

GIB is a joint venture formed by Guoxuan High-Tech and Slovak battery manufacturer InoBat. According to GIB's website, this project will become Slovakia's first battery super factory, with an initial production capacity designed for 20GWh, with potential to expand to 40GWh in the future. Trial production is expected to start in early 2026, with full production planned for January 2027.

Guoxuan's decision to build a battery production base in Slovakia is based on the promising prospects of the global new energy industry, aiming to better serve customers and expand overseas markets to advance the company's international strategy. This project will focus on battery manufacturing, aiming to localize the supply of power batteries, cover the EU market, and meet the company's future business development and market expansion needs, aligning with its strategic development plan.

As for the 20GWh project in Morocco, it will be implemented by Guoxuan's registered holding subsidiary, Gotion Power Morocco S.A., established on July 12, 2024. This project is also planned to be phased, with completion expected within five years, with specific progress to be determined based on actual construction conditions.

Guoxuan's decision to establish a battery production base in Morocco is based on the promising prospects of the global new energy industry, coupled with Morocco's strong industrial foundation and geographical advantages. This move aims to meet the company's future business development and market expansion needs, further improving its global strategic development layout. It will help enhance the company’s market share and overall competitiveness in the power battery market while reducing potential adverse impacts from changes in international trade patterns.