On October 11, Gotion Hi-Tech, a leading new energy enterprise, announced that it had signed a strategic cooperation agreement with Sumec, a subsidiary of China National Machinery Industry Corporation (Sinomach). The two sides intend to actively explore and carry out all-round cooperation in power engineering, especially in the field of energy storage.
They will actively promote in-depth cooperation in home-use energy storage in overseas markets, industrial and commercial energy storage markets and optical and diesel storage integration projects. Over the next three years, the total cooperative energy storage project between the two parties is expected to top 10GWh.
As a subsidiary of Sinomach, a large state-owned enterprise, Sumec focuses on the trade of mechanical and electrical equipment and bulk commodities. It has substantial investment and financing capabilities in power plants, data centers and high-end equipment manufacturing industries. According to the cooperation agreement, Sumec and Gotion Hi-Tech will work together in domestic energy storage projects and focus on developing large-scale centralized energy storage, mobile power vehicles, battery banks and other energy storage markets.
At the same time, both sides will jointly explore overseas energy storage markets. Combining the strengths of Sumec’s channels, equipment integration capabilities and after-sales service networks in overseas generator set markets with Gotion Hi-Tech’s production and R&D advantages in the field of energy storage, the companies aim to build better and larger overseas domestic storage solutions while broadening industrial and commercial energy storage markets and starting up optical and diesel storage integration projects.
They will also strengthen business cooperation in export business. In North America, Africa, Europe and Southeast Asian countries, Sumec has extensive experience in the export trade of mechanical and electrical products, strong export business capabilities, logistics cost advantages and an experienced team. Gotion Hi-Tech is in the stage of rapid development of its overseas business of batteries and energy storage products, and is facing a large number of export business and technical services.
At present, Gotion Hi-Tech is accelerating the layout of the global market. The construction plan of batteries and supporting industrial bases in overseas markets such as North America, Southeast Asia and South Asia, is steadily advancing.
Recently, Gotion Hi-Tech has seen progress in its US battery factory. On October 5, the news from the Michigan State Government’s website showed that Gotion, a US subsidiary of Gotion Hi-Tech, will invest in the construction of a battery module factory in the Big Rapids Township.
In addition, in July 2022, the first overseas factory of Gotion Hi-Tech set up shop in Gottingen, Germany. The planned production capacity of the factory is 18GWh, which is to be carried out in two phases and will have annual output targets of 6GWh and 12GWh respectively. The first phase is expected to be officially started by the end of 2022.
In addition to North American and European markets, Gotion Hi-Tech signed a memorandum of cooperation with Vietnamese automobile brand VinFast in August last year, planning to jointly carry out R&D and production projects of lithium iron phosphate batteries and discuss the possibility of establishing a battery factory in Vietnam.