VW and Gotion plan $3.66B battery JVs in Spain, Slovakia, Morocco

Volkswagen and Gotion High-Tech announced a $3.66 billion investment to establish three joint ventures for electric vehicle battery production in Spain, Slovakia, and Morocco. This move aims to localize battery supply chains in Europe and North Africa, reducing dependence on Asian imports and aligning with EU industrial policy. The scale and multi-country scope signal a major strategic shift in EV battery manufacturing, though final agreements and timelines remain to be detailed.