GotionPrefer Sterling in Google
Add sterlingcharts.com as a preferred source so our charts can appear with a preferred badge in Google Top Stories, AI Mode, and AI Overviews.
Register for a premium account to gain access to Sterling AI.
Get StartedThings you can ask Sterling:
| Period | Sales (10,000 Ah) | Production (10,000 Ah) | Inventory (10,000 Ah) |
|---|---|---|---|
| 2021 | 451,749 | 461,799 | 137,854 |
| 2022 | 859,669 | 879,519 | 157,704 |
| 2023 | 1,407,011 | 1,489,610 | 240,303 |
| 2024 | 1,975,231 | 2,107,631 | 372,703 |
| 2025 | 3,087,352 | 3,192,604 | 477,955 |
| Period | Capital / Status | Detail |
|---|---|---|
| 1995. Gotion High-Tech founded | Pre-VW | Founded as Hefei Guoxuan High-Tech Power Energy; expansion through 2010s to become #4-5 Chinese battery maker by GWh |
| 2021-05. Volkswagen Group invests EUR 1.1B for ~26% | VW ~26% stake | VW Group acquires ~26% of Gotion High-Tech for EUR 1.1B; Gotion becomes a designated VW Group strategic battery supplier; opens path to European + US OEM customers |
| 2022-10. Big Rapids Michigan plant announced | $2.4B announced (Michigan) | Gotion announces Big Rapids MI cathode + battery component facility; ~$2.4B investment + ~2,350 jobs; targets components rather than full-cell production |
| 2023-09. Manteno Illinois plant announced | $2B announced (Illinois) | Gotion announces Manteno IL battery cell + module factory; ~$2B investment + ~2,600 jobs + ~40 GWh capacity target; Illinois governor JB Pritzker headlines announcement |
| 2023-Q4 to 2024. Manteno community opposition | Public protests + legal challenges | Manteno residents organize public opposition citing land-use + truck-traffic + China-tied-investment concerns; village board faces multiple recall + zoning challenges; plant proceeds despite opposition |
| 2024-04. FEOC final rules clarify exclusions | IRA 45X loss | US Treasury + DOE finalize Foreign Entity of Concern rules for IRA 45X; Chinese-majority-owned manufacturers are excluded from production tax credit eligibility; Gotion Manteno loses potential $1.6B+/year subsidy advantage vs Korean peers |
| 2024-10. Big Rapids Michigan plant cancelled | Project terminated | Gotion cancels Big Rapids MI cathode facility plans citing 'changed business conditions' (broadly: FEOC + community opposition + softer US EV demand outlook). Manteno IL remains on track |
| 2024-Q4 to 2025. Manteno construction proceeds slowly | Phase 1 site prep | Site preparation + foundation work continues but at a slower pace than initially announced; Gotion characterizes timeline as 'multi-year build-out' rather than 2026-target launch |
| 2025-05. Printed design capacity restated | 35 GWh cells / 25 GWh packs | Gotion Inc. (7 May 2025) prints a completed Manteno design of 35 GWh of battery cells and 25 GWh of battery packs per year, with the site in final testing toward year-end operations. This is the later printed design, not the 2023 announcement figure. |
| 2025-11. Manteno plant reaches operational status | Operational | Manteno reaches operational status Nov 2025 with five assembly lines and ~300 employees; energy-storage (ESS) manufacturing scaling toward ~1,400 jobs in 2026; production ramping rather than site prep |
| 2026-H1. Illinois plant still on CIP schedule | 4.90B yuan CIP | 2026 H1 construction-in-progress names Gotion Illinois New Energy Inc battery plant construction at 4,902,294,681.86 yuan book value (4,723,469,037.27 yuan at 31 Dec 2025). Filings do not print an operating MW or GWh run-rate for Manteno in H1 2026. |
| Editorial. Why this case study matters | Strategic context | Gotion Manteno is the marquee test case for whether Chinese-majority-owned battery manufacturing can operate at scale in the US under IRA + FEOC rules + community-opposition dynamics. The outcome shapes (1) future Chinese battery-maker US strategy, (2) US battery supply-chain dependency on Korean + Japanese makers, and (3) the broader US-China industrial-policy decoupling trajectory. Outcome remains uncertain as the plant ramps from its Nov 2025 operational start |
| Period | Revenue (CNY B) | Overseas (CNY B) | Overseas share (%) | Net profit (CNY B) |
|---|---|---|---|---|
| 2020 | 6.724 | 0.15 | ||
| 2021 | 10.356 | 0.528 | 5.1 | 0.102 |
| 2022 | 23.052 | 2.98 | 12.93 | 0.312 |
| 2023 | 31.605 | 6.428 | 20.34 | 0.939 |
| 2024 | 35.392 | 11.005 | 31.09 | 1.207 |
| 2025 | 45.07 | 10.183 | 22.59 | 2.383 |
Founded in Hefei, Anhui as Hefei Guoxuan High-tech Power Energy by Li Zhen: Chinese-domestic-policy-aligned LFP cell manufacturer focused on commercial-vehicle and electric-bus applications. LFP-only chemistry strategy matures through China's NEV subsidy era; positions Gotion as VW's pure-LFP supply choice when Beijing forces foreign-OEM local sourcing in late 2010s.
Volkswagen completed acquisition of 26% stake for ~€1.1B: became Gotion's largest single shareholder (founder Li Zhen retains ~13%). Strategic anchor for VW's MEB-platform LFP cell supply (later Power Day Salzgitter standardised pouch cells). Triggers PRC SAFE/government-backed-investment scrutiny; closes after 18 months of regulatory review.
Announced $2.4B Big Rapids, Michigan cathode/anode plant: 150,000 t/yr capacity. Triggered Republican CFIUS scrutiny over VW shareholder ownership; Michigan state subsidies ($175M) became midterm-election controversy. Project ultimately halted Aug 2024.
Unveiled L600 Astroinno LFP cell promising 1,000 km range at vehicle-pack level and >5,000 cycle life: competitive response to BYD second-gen Blade and CATL Shenxing. Targets Volkswagen Anhui MEB+ and other VW-platform LFP applications from 2025.
Manteno, Illinois EV battery plant announced: $2B investment, 40 GWh/yr LFP cell capacity. Different geopolitical dynamic from Big Rapids (MI): Illinois Democratic-state-government supportive, less CFIUS friction. Targets initial production 2026.
Began trial production of all-solid-state Jinshi cells (350 Wh/kg cell-level energy density, sulfide-electrolyte) at Hefei R&D pilot line. Targets 2027 pilot-vehicle deployment; positions Gotion in ASSB race alongside Samsung SDI, CATL, SAIC's QingTao, and BYD.
Slovakia 20 GWh battery plant announced jointly with InoBat for European-OEM supply: €1.2B investment in Šurany. Targets initial production 2027; supplies VW Skoda, Stellantis Opel, and emerging European brands. Second European footprint after VW Salzgitter LFP cell-line agreement.