China’s Fifth EV Battery Maker Gotion Targeting Aggressive Global Expansion

Gotion High-tech is one of China's leading producers of lithium-ion rechargeable batteries for new energy vehicles. NEV batteries contributed over 70% of Gotion’s total revenue in 2023. According to China Automotive Battery Innovation Alliance and SNE Research, Gotion is ranked fifth in China, after Contemporary Amperex Technology, or CATL, BYD, and CALB, with a market share of 4% as measured by electric vehicle battery installed capacity in 2023 and eighth globally with 2% market share. Gotion’s major customers include some of the leading local-brand automakers such as Chery, SAIC Wuling, JAC, Chang’an, and Leapmotor. In addition, Huawei is the company’s largest customer for its energy storage battery segment.