CHINA'S GOTION INVESTS $1.25 BILLION IN VOLKSWAGEN BATTERY PLANT IN SPAIN
NEWS Desk Global
4 hours ago
1 min read
China's Gotion will invest €1.1 billion ($1.25 billion) in Volkswagen's battery plant in Valencia under a broader plan to jointly develop a European battery supply chain.
Chinese companies are boosting their presence in Europe ahead of expected moves by Brussels to shield EU industry from cheaper imports, including electric vehicles from China threatening to slash the market share of Volkswagen and other EU heavyweights.
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