Volkswagen Sells Almost Half of One of Its Plants to a Chinese Company to Lighten Its Battery Subsidiary's Bill

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Volkswagen, its subsidiary PowerCo and Chinese Gotion announced this Monday, September 28, 2026 three new joint ventures in Spain, Slovakia and Morocco to produce LFP batteries, for a total investment of €3.22 billion. Gotion pays €1.1 billion to take 49% of the future Volkswagen battery plant near Valencia.

autoplus.fr

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Volkswagen sells 49% of the gigafactory in Sagunto, Spain, to Gotion for 1.1 billion euros. Gotion runs the factory, whose start is delayed to 2027.

hibridosyelectricos.com

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Although he had flatly denied the rumors that have been ringing for months, Volkswagen now confirms that the Sagunto factory and two other battery factories will be shared.

Financial Intelligence

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The Chinese Gotion Group will invest 1.1 billion euros (1.25 billion dollars) in the [...]

Motor.es

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Works of the PowerGo Battery Gigafactory in Sagunto The Volkswagen Group has agreed to sell 49% of Sagunt's gigafactory to the Chinese company Gotion High-Tech for 1.1 billion euros. PowerCo will retain 51% and Gotion will assume the operating direction of the plant.The operation seeks to alleviate the costs of the battery subsidiary and postpone the start of production to 2027.Building battery factories from zero on European soil is proving a m…

forococheselectricos

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The Volkswagen Group has signed an agreement with the battery manufacturer Gotion to establish a joint venture to operate the Sagunto (Valencia) gigafabrica; that is, the German giant will retain control over the centre with a participation of 51%. Chinese manufacturer Gotion has signed an agreement with Volkswagen to establish three joint ventures in Europe, through which two gigafabricas of batteries (Slovakia and another in Spain) will be man…