M&AIndustrialsSIGNED
Volkswagen Sells 49% Stake in Sagunto Gigafactory to Gotion
Value
€1.1Bn
Acquirer
Gotion
Target
Volkswagen's Sagunto Gigafactory (49% stake)
Volkswagen is selling a 49% stake in its Sagunto gigafactory to the Chinese company Gotion, along with contracts valued at €1.094 billion. The German automotive giant is ceding nearly half of the project to its Asian partner and entrusting them with the engineering. The plan is to make the Valencian plant the European production hub for LFP batteries.
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