Gotion acquires 49% stake in VW's Sagunto gigafactory for €1.1B

Chinese battery maker Gotion has acquired a 49% stake in Volkswagen's planned gigafactory in Sagunto, Spain, for €1.1 billion, deepening Chinese involvement in European EV battery production. This follows a pattern of Chinese firms (CATL, Envision, Gotion) participating in all four planned Spanish gigafactories, signaling strategic expansion into the EU market amid trade tensions. The deal underscores Europe's reliance on Chinese battery technology and capital, with implications for supply chain security and industrial policy.