Slovakia signed a memorandum with GIB to build a battery factory

Bratislava, 23 November (ČTK correspondent) – Slovakia has signed a memorandum with Slovak-Chinese company Gotion InoBat Batteries (GIB) to build a factory producing batteries for electric vehicles. The Slovak government office and the Ministry of Economy informed ČTK today. They did not disclose the size of the investment, but said the planned plant would create around 1500 jobs.

It will be Slovakia’s first so-called gigafactory. Slovakia is the world’s largest car producer per capita. The factory will be built on a 65-hectare site in Šurany in southern Slovakia, with an initial production capacity of 20 gigawatt-hours and the option to double it later. According to the Ministry of Economy, the investor plans to start production in 2026.

„We hope that in the future Slovakia will not only be the world leader in car production per capita, but also in battery production per capita,“ said Li Chen, chairman of the board of Gotion High-Tech, in a press release.

GIB is a joint venture between Slovak company InoBat and China’s Gotion High-Tech, one of the world’s leading battery conglomerates, which previously acquired a 25% stake in InoBat.

„I am very pleased that one of the first investments we can announce during my tenure will be the construction of a gigafactory, which is crucial to the future of the automotive industry and e-mobility not only in Slovakia but throughout Europe,“ said Slovakia’s new Minister of Economy, Denisa Saková.

The two parties signed the memorandum on Wednesday.

According to Slovak media, previous governments had offered the site to German automaker Volkswagen, which postponed its decision on building another gigafactory. Volkswagen has car and parts manufacturing plants in Slovakia.