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Gotion High-Tech goes public in Switzerland

Gotion High-Tech goes public in Switzerland

 


Chinese battery cell manufacturer and Volkswagen partner Gotion High-Tech has been listed on the Swiss stock exchange. The Swiss IPO brings Gotion gross proceeds of approximately US$685 million, or approximately €672 million.

The company intends to use the capital primarily to expand its production capabilities for battery products and raw materials overseas, according to a statement from Gotion High-Tech. The IPO was carried out in parallel on the Swiss Stock Exchange, the Shenzhen Stock Exchange and the Shanghai Stock Exchange.

“We are delighted with the success of the pricing of our GDR offering and the interest of domestic and international investors in our company,” said Li Zhen, Chairman and CEO of Gotion. “This is a major milestone in the history of Gotion. Our major shareholders and I remain fully committed for the long term to the continued growth of Gotion. »

Gotion has continued to expand its business in recent months, with recent figures from SNE Research showing that production in the first half of the year increased from 2.2 GWh in the first half of 2021 to 5.8 GWh, a growth of 165 %. In June, Gotion had opened two battery factories in China, and battery production in Gttingen is expected to start in 2023.

prnewswire.com

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2/ https://www.electrive.com/2022/08/08/gotion-high-tech-hits-the-swiss-stock-exchange/

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