Slovakia signs deal with investor to build €1.23 billion gigafactory

Bratislava, June 20 (CTK correspondent) – Slovak Minister of Economy Denisa Saková today signed an investment agreement with a consortium comprising Chinese company Gotion High-tech and Slovakia’s InoBat to build an electric vehicle battery factory in southern Slovakia. The investment will total €1.23 billion (CZK 30.5 billion), and the state will support it with incentives worth €214 million (CZK 5.3 billion), Saková told reporters.

According to Saková, the project, which also includes the construction of a scientific research center, is the second-largest foreign investment in Slovakia’s history. The factory will be built in Šurany, with a capacity of 20 gigawatt-hours (GWh). It will be the country’s first so-called gigafactory. The investor will create more than 1,300 jobs there.

„We must strive to attract suppliers to Slovakia for carmakers as part of the new trend toward the transition to electric mobility,“ Saková said.

She added that the automotive industry accounts for a tenth of the total output of Slovakia’s economy. Slovakia is the world’s largest car producer per capita.

The first test products from the new factory in Šurany are expected to be available next autumn. The investor plans to begin regular production in early 2027 and reach full production capacity roughly six months later.

The Slovak government signed a memorandum with the investor last November concerning its planned project in Slovakia. China’s Gotion is one of the world’s leading battery groups. InoBat is also active in battery development and manufacturing.