Kénitra: PowerCo and Gotion plan battery-materials venture

Volkswagen Group, PowerCo and Gotion plan a joint venture in Kénitra to produce cathode materials for lithium iron phosphate batteries. According to the group’s statement, Gotion would hold 51% and the partners would manage the venture together. It forms part of an agreement also covering cell factories in Spain and Slovakia. Completion remains subject to regulatory approvals and closing conditions.